EURUSD 4 HOUR
EURUSD is testing its breakdown level, which is the underside of the neckline. This level is also defined by VWAP from the high (see futures chart below) and the line off of highs in March and June, which was support on 9/17. I am looking for resistance to hold. Failure to do so would indicate a failed breakdown and be viewed in a bullish light.
9/29 – We can now label LPSY. Resistance should register between now and 1.1780s. Watch for signs that price is rolling over again (volume reversal, long upper wick on hourly or 4 hour chart, etc.) before adding to the short position. An updated futures chart with Wyckoff labels is below and the updated spot chart is 2 charts down.
#EUR/USD#
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