I was looking for a move lower yesterday for EURUSD from 1.08600 to target 1.0800. Price just opened and based at BZ, sold down to 1.0800 perfectly and rallied 40 pips up. Market seemed to be trying to find a bottom. Price action IMO is neutral but trend is still down. I am looking for price to possibly move to 1.08600 (IMO likely) and watch the response there. A rejection would be a short to 1.0770, while if price holds there 1.0920 is next.
If i were to find a long entry, it would be likely on a re-test of 1.0808, find support for a long to 1.08600. If not, just wait for 1.0860 to trade and look for a possible short. Another possible move higher, would be for 1.0860 to trade, pullback and base at PZ before breaking higher.
If i were to find a long entry, it would be likely on a re-test of 1.0808, find support for a long to 1.08600. If not, just wait for 1.0860 to trade and look for a possible short. Another possible move higher, would be for 1.0860 to trade, pullback and base at PZ before breaking higher.
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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.