EURUSD has turned bearish. Today we have two possible scenarios:
1) It pulls back and goes to retest it's resistance
2) It goes down, pulls back to current level and then goes down to test it's support
Scenario 2 looks more likely, see what happens in London session and enter in NY session with tight stop loss
US ISM comes out today, and it looks bearish, which might make EURUSD go up to its resistance
If you want a safer trade wait for tomorrow
1) It pulls back and goes to retest it's resistance
2) It goes down, pulls back to current level and then goes down to test it's support
Scenario 2 looks more likely, see what happens in London session and enter in NY session with tight stop loss
US ISM comes out today, and it looks bearish, which might make EURUSD go up to its resistance
If you want a safer trade wait for tomorrow
Note
Bears too strong. There's no bullish divergence to long and it's too close to a strong support to short. Unless there's a huge breakout, better let's try again tomorrow
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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.
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.