Here we might have a very big sell on eurusd
based entirely on structure. We can very well see that eurusd
has an impulse coming down from the left which is indicating possible future bearish
momentum. Now as you can see price has formed a continuation pattern on the downside. Two possible structures are possible first one being a bearish
triangle and second being a bearish flag
. If price is able to break the lowertrendline then we have a simple abc
where as if price is unable to break it and bounces to the top, we might just have a bearish
triangle. Overall the trend is down.