EURUSD is at a premium level of resistance, where it is already forming a double top. The trend is still bearish and we are just going to be taking the bearish setup to provide for the deliberation of the correction. This is a risky setup which can garner us some good reward. We can take the position till the support level. There was a fakeout on the resistance level which breaked back in.

The ascending trendline has broken out for sells and the market only needs to retest it at the resistance.

The EMA 50 is still trending bullish and we anticipate the market to drop down and pierce the EMA 50 towards the bearish side.

RSI is at 34. It needs to neutralize itself at the 50 level in order to align with the technical factors. 

Another bearish shot on EURUSD

Nov 30 2023