DollarsNSense

EUR/USD looking for a pullback

Long
OANDA:EURUSD   Euro / U.S. Dollar
My radar was out of sync with the market yesterday as EUR/USD failed to turn around when it hit DP/WP. In fact it plummeted through both, as if they stood for precious little. As there was no setup to trade Long - no harm was done. The pair now closes once again, on 1.1600 and I must say, I'm ok with that. With my bullish bias, comes the expectation that a bounce Long will occur and 1.1609, is as good a place as I can find, short term. I'm looking then, for a false break below a Support Trendline (H4 chart). It's NOT inconceivable that price will seek the bottom of the two month old range (1.1500/1.1800) of course but with an untested DP snuggled up tight against WP and MP, it will venture Short without me. So, Plan A is to trade a DP Test off Support. A lack of Trendlines on M30 might be rectified in time to trade during UK Session but for now, H4 looks to be the testing material - I'll need some patience.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.