Last session the EURUSD tried to push higher, but the push higher was rejected by the market and the daily candles closes as a bearish rejection candle pattern.
A lot of price action traders will be tempted to sell this… but I am not too keen on it to be honest.
It didn’t form off any strong support or resistance levels, just in the middle of no where really. Any one who shorts this signal will be playing straight off the candlestick pattern, and not really have much else technically here to back the trade.
There has also been a breakout of the lows during the asia session which is a huge red flag for me. Usually these early breakouts end up being a massive failure.
NFP is also coming out tonight so be mindful of the pending volatility.
Share
