EURUSD Intraday Update

FX:EURUSD   Euro / U.S. Dollar
ST Short 3rd target was reached Friday as the intraday short sellers continued to control the day trade price action.

We are keeping close watch on the AST Short 3rd target which is about 60 pips below the ST Short 3rd. This is a more important level as this is a trade being sold from a higher time-frame than the intraday chart. If this level is reached before a sizable retrace, it will be a significant accomplishment.

The AIL is an example of a intraday long that is at the extreme entry range as this is a 60 min chart level. Many day traders and scalpers will be reacting to the lower time-frame entries(not shown on chart) to minimize their intraday risks. Most swing traders are targeting 1.261 for their next long entry range but will certainly be interested in the results of the AST 3rd level if it is reached.

We are not showing all the levels that we furnish for our clients but there is more than sufficient to identify and profit very nicely from the intraday action. Regardless of which side you are trading, we have identified the levels that traders will be reacting to and targeting.

All news from the eurozone should be monitored closely as the approaching levels will likely produce some rapid responses.

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