EURUSD Battle – 61.8 Bearish Pressure Vs the Bullish Channel

Here is an interesting one, currently the EURUSD pair is in a bit of battle situation. On one hand we have the the strong bullish channel, on the other we have 61.8 been fought by the sellers. Who will win in this battle, while the buyers have the advantage, they too have there weakness die to price being a daily and weekly highs..

What do you think, who will win the sellers or the buyers.. If you want my preference, I would say the sellers, but heck we all know what the market can be like sometimes.

eurusd battle

( Click for larger view )

For my reasoning take a look at the opposing confluence of the USDCHF on weekly. Giving us probable clues of much bigger weakness on this pair as more buy the USD CHF pair at major weekly support..

Only time will tell, what do you think?

bearish gartley on eurusd 1hour

Update – Bearish Gartley spotted on this pair as well, to the pip people, to the pip..

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About Timon Weller

Timon Weller is the professional Writer and Trader behind the blog Forex Reviews. Timon Weller is also a professional Teacher of Price Action Trading and creator of the popular Training Series teaching people how to trade Price Action effectively called The Engulfing Trader. For other Forex Training available here at Forex Reviews click here.

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