EURUSD Trend Continuation after the 1.116 Mark
Dynamic trend: Turned down
Background: W1 – weak; D1 – weak
Phase: Mark up
In point 1 there two breakout bars, with high volume. The second bar had very high volume, which usually means there is some supply behind.
In point 2 was a series of down – bars with low volume, including a test. The up-bar with very high volume in point 1 with upthrust are very significant signs of weakness. But the weakness was not confirmed due to the appearance of the test shortly after.
In point 3 there were two up bars with high volume, which is a normal trend continuation.
The market is still bullish, with a strong background. Wait for a strong VSA signal.