EUR/USD:4H chart, short trend, medium-term consolidation
Consolidation at the currency pair is at force around 1.10-1.1165
Price at horizontal support - low spike of the consolidation 1.10, where we can see a short-term support and a slight rise around 13EMA
Signal for new short possitions only after a breakthrough below 1.0985 or after correction of 25EMA (white MA) around 1.1050.
Indicators are in negative territory but the price is above the support, no strong signal for sell
Hammer formation at levels of support which give us a signal for a possible correction on the short
Those who want to trade long on the consolidation, stop loss at 1.0985
Stefan D. Angelov - Head of Stocks Trading
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