JaimePantoja
Long

EUR/USD Forecast 19/02

FX:EURUSD   Euro / U.S. Dollar
Expecting a trend continuation movement after the rejection of an important key area (50% of the previous up movement + Support)
Comment: Now that the price has not been able to hold the 1.1071 area, the market is confirming the inmmediate downtrend, the first taget could be placed around the 1.09800 where is located an important level of resistance, and also close to that area is the Lower Limit of the Trend Channel where one can expect to find some demand.

Here is the other analysis
Comment:
The fact that everyone is going long on this trade, makes me think for some reason that it might nor work after all.
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JaimePantoja nicktrader37
yep the level did not hold, but now another route must be done :)
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stream JaimePantoja
I am long to 1.127 .. no way anymore up for now . The support will hold till all numbers above reject ..
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has been rejected from there ..I think
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Yes, I agree with you ;) .... one can see that the nearest support was rejected twice (Red arrows) therefore one could think in taking a long position but I think that it depends on the risk tolerance of each trader, in my case I prefer to wait for more price information which means increase my price risk in order to take the long side. In any case thanks for comment the idea
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