On Friday, I was looking for a possible higher low and a move higher for EURUSD but was strong as price w as capped by previous strong resistance level and it sold down on NFP to a strong double support and rebounded rather strongly.
But given that Friday's price action is bearish and trend is still down (until we get a close above BZ), would look for further downside. For today 1.0794-1.0800 will be the zone to look for a possible rejection candle to target Friday's low.
If however, market came down to 1.0722 (Friday's low) first, I would like to see a possible double bottom formation for the long to target 1.0800, and looking for a possible near term bottom.
But given that Friday's price action is bearish and trend is still down (until we get a close above BZ), would look for further downside. For today 1.0794-1.0800 will be the zone to look for a possible rejection candle to target Friday's low.
If however, market came down to 1.0722 (Friday's low) first, I would like to see a possible double bottom formation for the long to target 1.0800, and looking for a possible near term bottom.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.