The downward momentum has slowed. Expect some correction.
EURUSD (4H): The downward momentum has slowed as price runs into the 1.10000 level. I expect some correction. This zone is also the 161.8% extension of a previous down swing. Price is trading slightly below the down channel lows and is overextended with significant separation from the 50 SMA. The USD as been strong and I expect selling pressure at previous swing highs as far as up to the 61.8% retracement.
I may trade all, some or none of the ideas posted. All of my contributions are for educational purposes only. 'TRADE What You SEE'' and all the best!
