DavidF_MVP

EURUSD DAILY - NEUTRAL FOR NOW

FX:EURUSD   Euro Fx/U.S. Dollar
33 1 3
We stopped right at the 78.6% retracement (1.1460). If you notice the daily candles from last week show indecision, which usually precedes a big move.

We need to see this pair move below the orange trendline in order to take some of the upside pressure. 1.15 is the next upside target.

I stay neutral for now as the risk/reward ratio for a long from here is not great and on the other hand a short from here while there's such indecision and dollar weakness persists across the g10 currencies .

The logical move would be to wait for a break and retest off the orange trendline for a short OR a long position from the trendline with a stop just below as this would limitt your risk.

happy trading
DavidF_MVP
7 months ago
The Eurusd finally broke out of its 7 daydoji range to the downside. Now would expect sellers to show up at the retest of the broken trendline & and that's where I will be going short (1-13 - 1.1310)

1st TARGET - 1.12
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