Marenno

EURUSD current view and entry levels (MTF incl.)

FX:EURUSD   Euro/U.S. Dollar
Price direction on a 1D chart is down, as new lower low and lower high appeared (Price direction is not the same as a trend direction)
Yesterday's close is below 5MA what gives a bit more power to bearish signals
Currently none of the major chart patterns appears (1D Chart)

Price is currently at 76.4% Fibonacci retracement area
in a relation to Previous swing UP
Will look for a bullish mid-term entry setup (based on 1D chart, using lower leverage and wider stops, this type of trade will be left open for a few days) at around 1.0850

On a 4H chart we have a bearish chart pattern
Divergence with a current oscillator confirms the reversal pattern on a 4H chart, what gives support to momentum traders, and can possibly give a momentum to the price movement.
Price is currently at 161.8% Fibonacci retracement area (Filtered to 4H timeframe)
in a relation to Previous swing UP
Will look for a bearish short term entry setup (based on 4H chart, this type of trade will be left open for a few hours) at around 1.098

On a 1H chart we have a bearish chart pattern
Divergence with a current oscillator confirms the reversal pattern on a 1H chart, what gives support to momentum traders, and can possibly give a momentum to the price movement.
Price is currently at 50% Fibonacci retracement area (Filtered to 1H timeframe)
in a relation to previous swing Down
Will look for a bearish short term entry setup (based on 1H chart, trade will be left for minutes, but position will be closed in parts and using a trailing technique, will try leave it open for a maximum period possible) at around 1.0975
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