spesfinancial
Short

EURUSD Coming short opportunities in next week

FX:EURUSD   Euro / U.S. Dollar
77 0 4
As can be seen from the chat, EURUSD             has downwards broken support zone around 1.1320, and has retested it as a resistance on Friday. If it could keep staying below this resistance zone , it is highly likely that price will continue going down to test support zone around 1.1150. It leaves us more than 100 pips range to trade short. Swing traders may choose to put SL above 1.1320 and look for short. However, as a intra-day trader, I'd like to wait for good short entry opportunities on lower time frame. Will update in coming days.
Comment:
Price has tested the resistance again on Monday. Though the resistance seems to be effective right now, we still have to wait for a weak candle on day chart or 4 hour chart as a short confirmation, then we may start looking for short entries. Entering short right now may bring a high risk.
Comment:
Still the day chart of EURUSD. Tomorrow we may have a very good chance for shorting this pair, as we have a clear fake upside breakout today, and today's candle is quite weak. Just wait a consolidation on 1 hour chart and look for short entry when price breaks today's low. We may also have long opportunities on USDCHF and EURCAD.
Comment:
We could have a good entry around the red arrow zone on shorting this pair on last Friday.


In the coming days, if price could stay below red resistance zone, we will surely keep looking for shorting entries on lower time frame until next support zone.
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