EURUSD just barely dipped under its trend support (red line) during NY's Thursday session.
As far as I'm concerned, there pair is still bullish at least in the short term while it remains above this trend support but I'm positioning with a sell stop order below the trend support and below the local low just underneath the trend support.
As far as I'm concerned, there pair is still bullish at least in the short term while it remains above this trend support but I'm positioning with a sell stop order below the trend support and below the local low just underneath the trend support.
Comment:
Looks like the pair is forming a tight small bear flag which is a good indication for the shown set up.
Trade active:
Trade was entered with that quick drop. My SL is higher than shown now just above the most recent structure high.
Comment:
Only the weekly chart we have a bearish pin bar formed last week which could drive this to a lower TP than shown.