EUR/USD short

25 באוק׳ 2017

The market has been in consolidation on the daily timeframe for a while now and is currently at the lower points of the mentioned zone. However, we have not made lower lows/lower closes for a while as well. Therefore, this indicates a market neutral stance for now. On the 4 hour chart we do have a forming pennant/triangle formation despite technically being in a downtrend. This indicates uncertainty and, in my opinion, should make traders "think both ways" before executing a trade. As a result, secondary targets have been adjusted (reduced) for the possibility of the market reversing and going up.