Petr Suchanek

EUR/USD SHOWING STRENGTH

FX:EURUSD   Euro Fx/U.S. Dollar
602 1 3
Now it really depends on how Euro             reacts to this important pivot . Today I offer two scenarios, one for long, one for short.

LONG SCENARIO:
The price is now re-testing 1.3878 and provided that Eur remains strong, it will reverse up and head for another pivot at 1. 3900             . Traders should look for any sign of strength in the current pullback to join the pair in the upmove.
SHORT SCENARIO:
The price might also fall down significantly below 1.3878, I assume that a retracement to 1.3850-1.3860 might be that sign of weakness needed for this scenario. Then I would wait for a re-test of 1.3878, which is a high potential entry level for a short trade. In this case Eur might fall to 1.3800.
snapshot
maybe
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