TradingTechs

EUR/USD set up to test last Dec low

OANDA:EURUSD   Euro / U.S. Dollar
84 0 7
EURUSD             broke 2016's lows. This comes after a test of this low two days ago and subsequent pullback. A bearish close below the low could set us up for a test of last Dec lows coming in at 105
Comment: Back above the swing lows of the year. Very oversold so a pullback is imminent. As long as 108 area holds a test of last Dec lows still on the cards
Comment: Another swing failure higher. Breaking yesterdays lows as I type.
Comment: Well on its way to 1.05 now
Comment: Pulling back today. The close will tell the story. If bullish first resistance at 1.0710
Comment: Previous swing low taken out. Targeting last Dec lows at 1.0520 area. Stops could be triggered beyond that
Trade closed: target reached: Went through the 1.0524 level as discussed and pulled back immediately. Idea is finished. A bullish close should be the beginning of a pullback but on the sidelines for now
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