I was bearish EURUSD yesterday and it played out perfectly. EURUSD just based at the PZ especially because Europe was away; but once US came in, EURUSD began the down move and a sell down of almost 65 pips. It even broke the strong level given and moved to the level below, just short of my final target, another 20 pips down.
What's for today? It is always tricky on the next move after a trend down day. Price action is bearish thus continue to look for shorts. IMO possible scenarios would be, EURUSD re-test PZ, at 1.0754 or 1.0766 then move down to 1.0716 then 1.0690. Another possibility of EURUSD just move down from here to the triple support at 1.0716. In that case, could look for a good long for a reasonable bounce at least, IMO.
What's for today? It is always tricky on the next move after a trend down day. Price action is bearish thus continue to look for shorts. IMO possible scenarios would be, EURUSD re-test PZ, at 1.0754 or 1.0766 then move down to 1.0716 then 1.0690. Another possibility of EURUSD just move down from here to the triple support at 1.0716. In that case, could look for a good long for a reasonable bounce at least, IMO.
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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.