EURUSD: An Update Analysis on Recent Price Action

Price action on the Euro ended up rallying right up to the previous level of resistance that we predicted. Although we didn't see the full trend continuation move that I had on my radar advanced pattern traders were able to take advantage & profit from a pain free bearish bat pattern completion.

Price action has now given us a HHHC about previous resistance which means it's time to rework the analysis. (I got a question about this earlier) but short-term this is considered a bullish rotation, however the underlying trend is still bearish & I would now expect a move to the $1.0900-$1.0950's level for my next killzone.

With the NFP tomorrow I may not have the opportunity to take advantage of that short, so during my day trading session we'll certainly be looking for ways to get long in anticipation of the potential short in my Live Trading Room.

Check out the video I posted yesterday "The Most Important Trading Periscope You've Seen This Year!" www.youtube.com/watch?v=xanhpvHH...

And as always please hit that THUMBS UP on this post and share it with a fellow trader.

Akil Stokes
Chief Currency Analyst & Head Trading Coach at www.TradeEmpowered.com

Trade active

Trade closed: target reached:

1st targets knocked out the box for +113

Trade closed: target reached:

Correction +65, I was looking at a different trade when I typed that in

Comment:

Looks like we were able to get on the right side of the jobs number. Time to protect open position profit as we work our way down to previous structure