EuroMotif

EURUSD approaching Resistance zones: EU short entry options

EuroMotif Mod Updated   
FX:EURUSD   Euro / U.S. Dollar
As we all know, the Dollar has been weak due to upcoming rate cut.
Such a shift in interest rate level will need some digesting by market.
We should be nearing completion of the adjustment process very soon.

Euro has nothing positive going for it, just rising on USD weakness.
EU interest rates will remain negative for the foreseeable future.
Some economic reports have been "less disappointing" is about all.

Thus I seek shorts, scalps that may be held.
Plotted are 3 resistance zones of interest.
Looking for a reversal pattern at any zone.

1.14111 - 1.14140 is immediate resistance.
1.14506 - 1.14519 is likely end of wave.
1.14750 - 1.14793 for extended wave end.

1.13423 - 1.13475 is first solid support.
1.12875 - 1.12833 will be hard to break.
1.12515 - 1.12589 would be a rare gift.


See some of my other Forex calls below.
I also plot Crypto and some Stocks, check my Profile Page.

EUR.USD long call (scalp that ran hard)
XAU.USD bounce call (perfect entry, huge profits)
USD.CAD top Call (warning just in time)
EUR.USD top Call (perfect top, still in play)
GBP.USD dip Call (just in time, quick 70 pips)
XAU.USD to $1367? (caught most of the spike)
Silver Bounce scalp (Perfect entry, still in play)
DXY top call (Upthrust warning just in time)
SPX recent top (Fib extensions at work)
XAU.USD long to short (recent perfect entries)
USD.JPY short to long (recent perfect entries)
EUR.USD long term Short (the very tippy-top a year ago)
AUD.USD long term Short (almost at a long term target now)

Of course, I have had total FAILS on some plots also, not going to pretend.
But my plans offer PRECISE entries, TIGHT stops, and EXACT take profits.
Precision is the way of the Fib. Almost every turn happens at a Fib Line.

Comment:
Prettly clean rejection from first resistance That may not have been the top, but indicates we are getting close. If not this one then the next one likely. This reaction adds confidence to the other zones on plot.

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the Moderator Tag is my Flag

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