EURUSD: Key Level To Watch For Shorts

FX:EURUSD   Euro / U.S. Dollar
1789 7 45
The downslope in the daily chart of EURUSD             is pretty active so i keep watching for price to reach any of the parallels of the median line , and watch for a setup. Price is in a rally and is heading toward the slide parallel where it has been rejected several times in previous tests. In addition we may see that at that level we have previous structure and the 50% fib level of previous downmove. It may take some days but if any sell setup comletes at that level it will be a high probability one.
Comment: Price has been rejected for the upper parallel. In case it test reaches it again i am going short
Great analysis! I would go short around 1.115 region though so slightly higher than you. That region seems like a better resistance level. Let's see what happens!
Fxprotrader PRO FaisalMahboobe3
Good to know :) Good luck..!
RalfDiana Fxprotrader
I did enter short at 1.1089 hope not too early because the price reversed at 1.1115 I think. May I ask You it is a good idea to go short on EUR/GBP as well? I noticed that they are almost always correlated, usually the GBP/USD goes up and the EUR/GBP goes down
Entered short?
Not yet
+1 Reply
Thank you
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