Vladimir RibakovOwner, Chief Trader at Home Trader Club (Former Traders Academy Club), Owner, Chief Trader at Home Trader Club (Former Traders Academy Club) · Owner, Chief Trader at Home Trader Club (Former Traders Academy Club)

Is EURUSD preparing for next bearish move? #eurusd #forex #trading #forextrading #shorts

24 Apr 2024 · 1 min

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Vladimir Ribakov analyzes EUR/USD and expects it to complete an ABCD pattern or range before moving lower. He's watching for divergence on daily and 4-hour charts, similar to a pattern he saw on GBP/USD, before looking for short-term buys. The overall bias stays bearish.

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here and sell the rallies is still the plan. And that's pretty much where we stand with the euro. I believe that the current scenario on the short term is going to complete ABCD before further move down, or some sort of a range movement here and then further move down. I do expect the daily and the 4-hour chart, exactly like with the pound-dollar by the way, Right, to complete that, start making some divergence while the market is making the lower lows indicator to complete a higher lows. From there, on the short term, looking for the buys. Meanwhile, the bearish pressure is on. For me, the EUR/USD is a sell.