EURUSD fell sharply past week, expecting this market to test the prior lows, at the moment it is under correction phase, looking to short this market once it tests the top of the expanding channel.
I still think that the EURO will move down to 1.1176
It's a great time to open Sell at this moment near 1.1240
If the price will hit 7 March low i need to see how the price will react on it - because it could one of the best place where we can open safe entry
EURUSD price action have been trading in a quite narrow range, price has almost reached the prior lows where I see convergence developing.
Looking 1.1176 a good area to build long positions with a 50 pips stop, targeting 1.1338 area.
Good morning traders,
With the latest news in EUR when we could see that the output growth is at a near six-year low, it opened some doors for us to do a short position.
As you can see we failed to break the monthly key level, with a clean and impulsive candle to the downside, after a little correction stage and this EUR news helping, the hourly support was also...
We see that price is in confluence with the Trendline and 61.8% on Fibs
The Highest price can go is about 50 pips higher @ like 1.14 for the major SL
So with a 250 Pip TP and 50 pip SL
The Risk to reward is well worth it.
I will be entering again when I see another break of support and retest of the broken support on the M30 then look for the bearish...
Man, this EURUSD puppy is going Down.. Nice H&S pattern weekly
Bounce doesn't look sustainable at all..
Today a Full bearish candle ending the week..
Sell on any bounce looks the way to go.
DYOR, Happy trading boyz and girlz
See chart. Please note this is the daily chart and market will retrace several times before hitting the level identified in the chart.
Please note that this chart is an opinion based chart only. Please trade at your own risk