Petr Suchanek
Short

EURUSD BEARISH OUTLOOK

FX:EURUSD   Euro / U.S. Dollar
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The Eur has broken down through the pivot 1.3832 with a nice long bearish candle, which is undoubtly a sign of weakness. I am interested in the entry at the re-test of the pivot , since the action above 1.3832 might be a bull trap.

Petr            

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Of course, if it goes straight down and I do not get a fill, nevermind, I only want to get a good price offering a good risk-reward ration. Then I don't need to be right...
Reply
Hi Petr,

Good analysis! You could be right about the bull trap, but it could also continue to go down until 1.3740. That is the zone it was testing just above the missed pivot (with divergence) from the 8th of April.
That is if no big news flash interrupts its path ;)
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