The EUR/USD proceeds with downtrend as the price is rejecting 1.1805 zone with both daily and h4 time frames aligned
The EUR/USD has formed a T1 pattern close to W L5 support and below the M L4 pivot. I usually don’t trade when this happens (the price is way too low) but due to strong RSI and Daily pointing downward, I assumed that the pattern is valid. Scaling out is always recommended as the full price target potential is 1.1738-20 zone. Once there we should see a counter trend bounce.
Nenad Kerkez aka Tarantula FX