It's an ugly chart, but it might yield a few pips. Strongest support seems to be around 0.9600.
The short that I've posted about a few times seems re-validated by the head and shoulders formed around the 382 confluence from the recent swings which imply a contracting market. Either affirmation bias has taken over, or the US data in 12 minutes is bad and we're going to finally kick this good short into action. I'm hoping it's the latter! Targets are...
I might be completely wrong, but I thought to share this idea anyway. Treating the recent price action as wave 1 of a downward trend, and correction wave (2) of said trend, respectively, we can come up with some future support levels to target based on proportional cloning and multiple fibonacci retracements. The proportional clones of price action "size" seem...
This is a potentially nice long entry opportunity.
There might be a nice scalping opportunity here.
Scalps might scrape a few pips off a long here, but I'm already in a short and think it's weak anyway. Enjoy grabbing a few pips if there's a decent little bounce at this 382 level.
I figured I'd share this as well, despite the high correlation to my other post about USDCAD.
I lost a little bit after yesterday's seemingly premature entry. I think this looks like a better entry point. Short 5/28/15 12:26 EST @ 1.24806.
Why not? It looks tasty. Short @ 1.24251, opened 00:53 EST.