SOLIDECN
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EUR/USD Consolidation and Bearish Signals
Solid ECN—The EUR/USD currency pair shows signs of consolidation after the price peaked at 1.092 and formed a shooting star candlestick pattern on the 4-hour chart.
Moreover, the Awesome Oscillator and the momentum indicators also show signs of a short-term bearish trend that might result in the price testing the 1.086 resistance level, followed by the 38.2% Fibonacci at 1.082. These levels could provide a decent bid price for retail traders to join the bull market.
If the bears (sellers) push the price below the ascending trendline, the bull market will be invalidated.
Moreover, the Awesome Oscillator and the momentum indicators also show signs of a short-term bearish trend that might result in the price testing the 1.086 resistance level, followed by the 38.2% Fibonacci at 1.082. These levels could provide a decent bid price for retail traders to join the bull market.
If the bears (sellers) push the price below the ascending trendline, the bull market will be invalidated.
