Looking for an intraday short trade on EURUSD to the downside of the previous low that matches up with the 68.8% Fibonacci level. The Fibonacci also matches up well with the overhead resistance levels.
However, I am still in the bias that overall and longterm we will see this pair breakout to higher highs.
EUR is in my main focus this week as these big pushes for the currency were expected across all pairs (except JPY for obvious reasons), so I am watching for a good pullback before we see these bigger higher pushes, this goes for most EUR pairs, not just EURUSD of course. If the EURO is going to be strong it's going to affect all the pairs.
Expecting large gaps in the market open due to all of the added coronavirus news over the weekend especially with the increase of cases in Italy! For this reason last Friday I closed all positions and decided not to hold at all this weekend.
However, I am still in the bias that overall and longterm we will see this pair breakout to higher highs.
EUR is in my main focus this week as these big pushes for the currency were expected across all pairs (except JPY for obvious reasons), so I am watching for a good pullback before we see these bigger higher pushes, this goes for most EUR pairs, not just EURUSD of course. If the EURO is going to be strong it's going to affect all the pairs.
Expecting large gaps in the market open due to all of the added coronavirus news over the weekend especially with the increase of cases in Italy! For this reason last Friday I closed all positions and decided not to hold at all this weekend.