EURUSD: Next target 1.0360 ?

On September 3rd I published the first post on the analysis of the Short structure of EurUsd. The analysis saw an exit level in the 1.0525 area where I actually exited.
After a continuation up to 1.0450 we see a retracement on the TrendCloud in the daily which leads to the formation of 2 positive swings thus changing the short structure as seen in the image below with the candles in yellow.

On the Weekly, however, the structure is still bearish and the breaking of the minimum of the previous week would lead to the formation of the third negative weekly swing and at the same time the beginning of the new bearish cycle on the daily structure, confirming each other for a Short continuation.

In case this were to happen, I see the next target in the 1.0360/70 area where I find a good support level.

While waiting for the next movements, I wish everyone a good weekend and happy trading 😊


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TAGS: USDJPY AUDUSD GBPUSD USDCAD USDCHF EURUSD NZDUSD