Potential Bearish Drop of 600 pips

2020년 7월 27일

On the monthly view, EURUSD continues on a downward trend line. Weis wave volume confirms the bearish trend. The past four month rally is a retrace within this trendline. Priceline will hit massive resistance close to 1.25

Now is not the time to open a short. Await price action close to the resistance line and appearance of red candles at the 4H, 8H and 12H Tfs. Opening long can likewise be dangerous given a potential stop out should the peaks be reached.