I was bearish EURUSD and it was a pure price action move as EURUSD opened gap down and moved lower without a pullback. It made a nice break below 1.0766 support, retest it, then break lower to the level below before rebounding. EURUSD does look like it wants to close the gap. From that chart, we can see EURUSD retesting 1.0762 strong level from above and it is accepted. With price above PZ, could expect a move higher back to 1.0796 double resistance zone and that would close the gap.
IMO I would look for shorts there on rejection for a move lower, with 1.0700 as first price target, and if break, a move lower to 1.0642.
IMO I would look for shorts there on rejection for a move lower, with 1.0700 as first price target, and if break, a move lower to 1.0642.
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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.