EU Short Idea
The M,W,D,4hr timeframes are all very bearish and we have been seeing very strong bearish momentum over the last week.
Price action gave us a perfect reversal off of the 1.11 level as anticipated. We then watched a confirmed break and retest play out.
Now we have seen price action break another major support level around 1.09850. From here we want to see a retest of the broken level as well as look for confirmations such as fib levels, bearish setups, moving average indications etc
Ideally a nice retest with plenty of confirmation would be enough to enter on. We will look to target toward our low and next major level around 1.09
The M,W,D,4hr timeframes are all very bearish and we have been seeing very strong bearish momentum over the last week.
Price action gave us a perfect reversal off of the 1.11 level as anticipated. We then watched a confirmed break and retest play out.
Now we have seen price action break another major support level around 1.09850. From here we want to see a retest of the broken level as well as look for confirmations such as fib levels, bearish setups, moving average indications etc
Ideally a nice retest with plenty of confirmation would be enough to enter on. We will look to target toward our low and next major level around 1.09
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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.