Morning Godal Member's, Traders and Aspiring Traders . Todays shared post is 1 of 3.
Pair : EUR/USD
Time-Frame - Monthly
Biased - Bearish
Despite having the brake of the MAJOR descending trendline on the monthly , once the break was confirmed it followed up with a double top which could indicate a potential temporary fake out with indication in the long run the descending channel is losing strength.
Alongside there being a double top just after the break based on the last two candles . The bearish engulfing candle pattern has presented it self which is a bearish pattern meaning we are in a bearish market . Based on the monthly . Watch out for the next post which will be on the weekly time frame of this multi time frame analysis.
Leave a comment if you feel the market is bearish or bullish
Pair : EUR/USD
Time-Frame - Monthly
Biased - Bearish
Despite having the brake of the MAJOR descending trendline on the monthly , once the break was confirmed it followed up with a double top which could indicate a potential temporary fake out with indication in the long run the descending channel is losing strength.
Alongside there being a double top just after the break based on the last two candles . The bearish engulfing candle pattern has presented it self which is a bearish pattern meaning we are in a bearish market . Based on the monthly . Watch out for the next post which will be on the weekly time frame of this multi time frame analysis.
Leave a comment if you feel the market is bearish or bullish
