EUR/USD is in a descending channel with lower highs and lows, signaling weakness toward 1.13, 1.12, and potentially 1.10-1.11. Vladimir Ribakov's plan: sell on a retest of the current range, or wait for a divergence to complete before shorting into a retest of recent highs.
Chapters
Let's start with the euro dollar. So the way the price action moves at the moment, the euro dollar is moving inside this channel, and by keeping these lower highs, lower lows, it looks like the euro dollar is heading lower back to the bottom of the chart. That means we are very likely will see 113, 112 again, and then very possibly 111, 110, maybe even beyond that. On a daily chart, we can clearly see the market attempts to make the lower highs, lower lows. At the moment, no signs against some oversold conditions on the RSI 20, which usually hints some pullbacks are ahead of us just to make further sells. So I believe that that's exactly the, uh, the plan, uh, if we start the week with the retest of this range or this range, from there look for the sell. If we start the week with one more drop with this divergence to complete, then very likely we're gonna retest the highs and from there looking for the sell. So