A few weeks back I analyzed the EURUSD… back then it was trading near a long term level and talked about two possible scenarios:
- Bullish condition, if it broke through the upper resistance level
- Bearish condition, if it broke through the lower support level
I favored the later one, specially because we had more than 500 pips before we reach the next LT level…
And you know what… that’s exactly what happened!
The EURUSD broke through the bottom of the range, triggering a bearish condition. And now, I’m going to look for short opportunities.