justatrader

EURUSD - Better to pick an entry for long

FX:EURUSD   Euro / U.S. Dollar
383 2 6
EURUSD             failed to close or even reach 1.4 on ECB's press conference. It forms a kind of a double top when looking through the line chart (the tops are off by a couple of pips). This DT gives a downside target to 1.3477. Its not validated yet but the DT target could offer a possible entry for long positions.

A retest to 1.38 from below to find resistance can see the next support sitting at 1.370 and a break of this could set the DT pattern in play targeting 1.347.

Staying on the sidelines.
I agree. My numbers are a little different but not by much. There is support nearby but if it doesn't hold price will fall nicely.
snapshot
+1 Reply
Looks like support will hold, given how the oscillators are positioned. A nice reversal candlestick pattern would be great to go long again.
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