TraderAvDM

EURUSD can still drop to 1.0770 and 1.0640

FX:EURUSD   Euro / U.S. Dollar
Hello friends, in my weekend analysis, I mentioned my plan to sell between 1.0875-1.0920 with SL above 1.0950 and TP at 1.0770.

Although EURUSD didn't drop to 1.0770, price definitely reversed lower after touching this zone yesterday.

In my opinion, EURUSD will head towards 1.0770 this weeks unless the elliptical zone that I have highlighted in my chart breaks strongly.

The plan is to keep selling the short term rallies as long the PRZ doesn't break.

Comment: Just a small update. Since EURUSD isn't moving much, you can look at other Euro cross for a possible risk-off trades. For example, I had a decent success buying EURAUD yesterday( my followers already took advantage of this trade).

I think, looking for buys in pairs like EURAUD, EURNZD could be profitable.

Comments

The bears are in full force and on a mission to retest support at 1.0770. unless otherwise ( abrupt dynamics), the bears are driving this pair
+2 Reply
TraderAvDM marksempewo
@marksempewo, You could be right. I agree with your view.
Reply
US doing better than EU for now. I think overall bias is lower on EUR-USD
+2 Reply
TraderAvDM bgnick888
@bgnick888, Yes that's a valid point
Reply
smashing analysis, im in this trade already! riding it down
+1 Reply
TraderAvDM TradewithDann
@TradewithDann, That's great. However, I have not traded Eurusd this week.
Reply
TradewithDann TraderAvDM
@TraderAvDM, any particular reason for not doing so?
+1 Reply
I observe the chart carefully after your weekend analysis. Yesterday was quite unsure direction but I also think it will drop. I will observe and follow you analysis.
+1 Reply
TraderAvDM pyotreck
@pyotreck, Yes dropping below 1.08 is likely unless something changes fundamentally.
Reply
Thank you prof!!
+1 Reply
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