After the blood bath of pre-NFP trading (In which I got a little burnt, unfortunately), this little setup looks extremely promising to get us one over EURUSD again. The decider of this play will be what happens at the 1.08 level. My targets are set at 1.05 for going into next week. Again, dependent on what happens at 1.08.
- I'm looking to SELL at around 1.0786 level, with tight stops back just above 1.082 (1.09 if you're up for it). - Unlikely, but a possibly for a BUY if the 1.08 is violated. Optimistic targets set between 1.10 and 1.115 levels.
Love to hear your thoughts on where the pair may go!
Good analysis mate. I have my eyes on that 1.08200 level for a potential short move lower also. I wouldn't be looking to buy even with 1.08 violation though... certainly not with these bearish fundamentals and the decent down trend formation. However anything's possible and we all have our trading styles! Best of luck.
Dylan-Rogan
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Yeah man that is a fair call eh! But you can never be certain haha.