orvilleawright

EURUSD Daily broke and close below the 1.10000 level

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             Daily broke and close below the 1.10000 level. Price is trading towards the low of the down channel . The 1.10000 zone has acted as support in the past and could do so again.
quite possible right now ;-)
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orvilleawright PRO x381966011250105
Its possible this level could old again. This level is also close to the 61.8% retracement of the larger trading range. Price could rotate to the bottom of the range. Lets wait and what the price action reveals in the next couple of hours. Note that the short term trend is currently down as we are trading below the 50 SMA, 20 SMA and price is below the PSAR. Happy trading!
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x381966011250105 orvilleawright
There is still some possibility for a downturn towards 1.095. But possibilities for reaching old heights above 1.105 grow up bigger with every next hour of trading ;-) Good luck and profitable trading! ;-)
Reply
orvilleawright PRO x381966011250105
Thanks and same to you!
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