themarketzone
Long

Testing important support zone

FX:EURUSD   Euro Fx/U.S. Dollar
683 5 5
$EURUSD declines fast today following Draghi's press conference.
It completed the pullback I was looking for (target was 1.125), but broke below the 1.125-1.13 support zone and below the minor uptrend line.
Now $EURUSD is testing critical support zone (1.11-1.12) and approaching both the 200 SMA line and the daily 200 SMA line.
Buy zone between 1.115 and 1.11 .... but wait to see that $EURUSD's crash stops..

1.125 is now target level
1.14 next target
Very brave man, I'm stopped out and bruised. But still think the dollar's weak.
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I booked profits when it touched 1.125 (bearish pullback trade).. looking for a reason to go long.. maybe next week, but very interesting zone here.
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IvanLabrie PRO themarketzone
Yes, same view. Need more reasons than blindly jumping on it. Let's stalk it. Next trade is long, even if it just continues range bound.
There's no euro and dollar to parity panacea here.
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Not as long as $EURUSD is above 1.1.
Checkout EURGBP testing 200 SMA line (daily)... other EUR pairs also fell into support. We'll see..
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IvanLabrie PRO themarketzone
Yes, at least a bounce...if anything, we can visible see there is no trend in eurusd. It's a fact.
Predicting the end of such a consolidation is a fool's business.
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