Although the EUR continues to bounce off the ST bullish trendline, the bears keep selling off the pair impulsively suggesting who's in control as one hour of selling takes out the last 15+hrs of buying pressure. The pair is approaching a bearish sell zone that could set up a low risk, high reward opportunity. I'll look to sell into this zone, with TP1 being the low of the blue trendline, while TP2 would be a return back to the swing lows around 1.3303
Comments
2ndSkiesForex
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Yeah, tricky. The upward trendline if extended could be an issue, yet 3500 could easily be eclipsed and then find sellers around 3540ish. I'm staying away for now when it gets like this.
pradafx
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Was a false breakout and looks like it's going down again.