Hello everyone:
Just like the previous trades I posted on USD pairs and GOLD, EURUSD is also sitting on strong resistance area of 1.1900 and over extended. On the 4 hr chart, we see a clear break down from the channel, signalling the bullish momentum may be exhausted, and a pullback on the daily chart may occur on EURUSD. This week I am looking for a intraday pullback, lower high to confirm and enter a short position down to the 50.00% area, as well as a the support trend line as a target.
Thank you for your support and feedback.
JoJo
Just like the previous trades I posted on USD pairs and GOLD, EURUSD is also sitting on strong resistance area of 1.1900 and over extended. On the 4 hr chart, we see a clear break down from the channel, signalling the bullish momentum may be exhausted, and a pullback on the daily chart may occur on EURUSD. This week I am looking for a intraday pullback, lower high to confirm and enter a short position down to the 50.00% area, as well as a the support trend line as a target.
Thank you for your support and feedback.
JoJo
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.