EUR/USD 2H Breakdown Structure

Wait 5 sec.

EUR/USD 2H Breakdown StructureEUR/USDOANDA:EURUSDsddhrthmallick736On the 2-hour time frame, the market was forming a bending structure, but before the pattern could fully complete, price broke down and shifted the momentum toward the downside. Because of this early breakdown, the bending formation remained incomplete. Now, using the supply created during the breakdown, a central zone/pennant structure can be identified. By matching the upper supply of this central structure toward the downside, a potential reversal area becomes visible. From this zone, a short-term bullish momentum can be expected. However, the upside move may continue until bending structure reaches completion.