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EURUSD: More Risk to take Position now!

FX_IDC:EURUSD   EURO / US DOLLAR
1925 2 38
We can not rule out a additional decline before a "potential" rebound. The first eurusd             support, is around 1.0885 (very close to 1.08, an area full of stop loss), and on the short side, we can not take a position now on these levels becouse we see the risk being long dollars ahead of next week's Fed meeting.
Well, how can we handle this situation? We think the right way is to wait a reversal pattern before taking a position (probably, If many retail will take long position from these levels, more the price will drop in short-term).
Monday, will be released the German IFO data, and eurusd             could give us some indication. If the data is negative, we will evaluate the supports, if the data will be positive, and eurusd             will rise, we will wait a pullback for to take long position. We have to wait only a few hours ... :)

1.1010: The key level
...Do you remember this our Analysis?
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EURUSD: DO NOT SELL!!  (Structure Part II)


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MalikSajidKhan
a year ago
i like ur job good job
Reply
SamuelHorton
a year ago
Great analysis. I agree and am expecting price to hit that significant 1.08700 level.
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