EUR/USD – follow
me on twitter @fxdailyforecast and stocktwits.com/fxg
2400 proves to be a touch level to break with lots of
support, price bounced hard out of there overnight. Technically we have broken
the A support low, so we are technically reversing on this timeframe, but I
would watch out for 2746 coming under pressure, maybe not today since its rallied substantially already.
FOR TODAY:
Price is at the 618 of the downswing on this pair, we
should be selling bearish cs formations from current levels, or higher up at
the 786.
Long trade setups will be considered after a test of the
BF786 followed by bullish cs formations.
If we don’t get the setup we are looking for then we
don’t trade.
SHORT: WILL
ONLY BE GOING SHORT IF:
Short trades can be considered after a clear bearish cs
formation, especially since price rallied more that 170 pips during the Asian
session, we might consolidate a bit here or pull back before resuming a test of
2746.
If we don’t get the setup we are looking for then we
don’t trade.
LONG: WILL ONLY
BE GOING LONG TODAY IF
We are expecting price to extend towards 2746, but we don’t
have a long entry according to the system, we have to wait for a pullback to
the BF786 followed by a bullish cs formation.
If we don’t get the setup we are looking for then we
don’t trade.
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