My second Finlogix analysis this Wednesday goes to EURUSD.

The major economic reports to keep an eye for Euro are French Flash Manufacturing and Services PMIs and German Flash Manufacturing and Services PMIs. All on Thursday.

My previous EURUSD trade plan has exited in another loss:

https://www.finlogix.com/analysis/20240219/eurusd-intraday-analysis-and-trading-plan-for-february-19-2024

I am now 1 win and 10 losses with 8th lose streak.

Re-assessing the EURUSD’s high timeframe candles:

Yearly Candle: Still a Red Shaven Head since last check

Monthly Candle: Still a Red Doji since last check

Weekly Candle: Last check was a Long Legged Red Doji now a Green Long Upper Shadow

Daily Candle: Yesterday’s close was a Green Long Upper Shadow With Large Body current is a Red Spinning Top

A pretty strong week for EURUSD with the buyers in control. Tapping the 38.20% fib retracement back inside the previous 4H FVG. A strong buy side liquidity, a strong rejection.

I mentioned on Monday that EURUSD likely to continue downtrend after the current rally, I’m going to maintain that call.

I am going to short the rally attempts during New York trading session, we have already seen a bearish 4H candle intraday. It will be a reasonable sell entry ¾ its body.

I will place the stop loss one more time in the upper 4H FVG while taking the profit on the lower 4H FVG complete retracement.

I need this trade to be a winner. A trader does not lose all the time. I continue to stick with my trade plans and insights.

EURUSD Intraday Analysis and Trading Plan For February 21, 2024

Feb 21 2024

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