Looks good for a short at this point.
Disclaimer:
All trade ideas are given for educational purposes and should not be treated as an investment advice, hence do your due diligence. Past results does not guarantee future results
Wait for a re-entry on EURUSD at 1.07297 but bare in mind that there is liquidity siting below that price and you might want to take another entry at 1.07022 overall target is 4H supply zone at 1.08811
Good Afternoon Traders,
The Euro is looking to continue its move upward on the USD, but not before pulling back to Support. Bearish Divergence has formed on the 8H and price may be pulling back to the Support around 1.10000
RSI is in over-bought territory and may form a lower-low following the anticipated pull-back. Long entry consideration would be made...
Hello Traders,
From our previous preview of this pair, all we needed were lower lows and that we got as price action shows. As you can see, not only is there is a stochastic sell signal in the weekly chart but bears are capitalizing on that clear bearish divergence following an over-extension/EURO over-valuation by week ending February 2. However, that’s not all....
Potential sells here. As USD unwinds, we can see a clear bear break out in the weekly chart following an over-extension a couple of weeks back. My EURUSD trade plan is to sell EURO at 1.222, place a stop at 1.2290 and aim for 300 pips at 1.19 or lower.
Mario Draghi and ECB rate announcement in the course of the day under focus. Chances of tapering postponement is likely. Disappointed, bears should be in charge.
Trade should turn out as follows if conditions are met:
Sell Stop: 1.1955
Stop Loss above 1.1975
Take Profit: 1.1915
