Hey traders!
(This analysis was already shared with students)
EURUSD was the first one to move down last week before every other pair followed suit. It had a considerable lead vs other majors. Now it had retraced back to 0.38 FIB extension before resuming its downtrend. It looks like it is building a new downtrend channel as showed here in my chart.
MACD showing signs of weakness
RSI neutral
DXY somehow still bullish
Here's what I'm thinking :
EURUSD SHORT:
ENTRY : 1.1801
SL : 1.18811
TP : 1.15789
Trade safe!
Disclaimer: This is my trading analysis, it is not an invite or recommendation to trade.