Today we would like to talk about a possible trading opportunity on the popular EURUSD market. This market has been on a bullish run as of late but may have recently topped out, notice how this chart is making lower highs and lower lows.
To further add to the bearish bias, price is now closing on the bearish side of the EMA’s, and has broken through a strong daily support level, where the market has been consolidating before it makes the next move.
Evidence of this consolidation is present to price action traders in the form of an Inside/Indecision day ( one of the signals from the Price Action Protocol ). If price breaks down below the Inside/Indecision day this could trigger the next wave of bearish movement.