Fibonacci analysis and short position in EURO / DOLLAR
We see how the pre-opening of the European markets punished the Euro against the American Dollar.
Leaving it in position of bearish movement, within the main trend, it is observed in the graph, as to lost HDH and FDK.
What makes me think about seeing the euro again at price levels around 1.16.
I distinguish two large Fibonacci resistances coming together, with the loss of the zone of overshoot of the SEC oscillator, at this moment the price is in an area compromised in its narrowing of squeeze and hidden divergences bearish by strong hands.
Everything indicates the possible scenario of seeing a small rebound towards price levels close to 1,171, where we would take short positions once outside the OS zone.
Short market position:
— Input: Current market prices.
— Stop Loss: Around 1,174
— Expected Take Profit: 1,159 / 1.16
Hek
Leaving it in position of bearish movement, within the main trend, it is observed in the graph, as to lost HDH and FDK.
What makes me think about seeing the euro again at price levels around 1.16.
I distinguish two large Fibonacci resistances coming together, with the loss of the zone of overshoot of the SEC oscillator, at this moment the price is in an area compromised in its narrowing of squeeze and hidden divergences bearish by strong hands.
Everything indicates the possible scenario of seeing a small rebound towards price levels close to 1,171, where we would take short positions once outside the OS zone.
Short market position:
— Input: Current market prices.
— Stop Loss: Around 1,174
— Expected Take Profit: 1,159 / 1.16
Hek
Trade closed: target reached:
Objective reached we closed and rethink new scenario. :)
We will be attentive to this area, if overcome, we would enter the straight to take profit.