Euro / U.S. Dollar
Short

EURUSD Idea for 08/08/2013

171
Price failed to mitigate the extreme today but a lower time frame CHoCH indicates that it is making its way up there so it could be on the agenda tomorrow.

If we stay with the trend then we will be looking for sells from either the ENG level or extreme zone. A confirmation entry is advised due to the recent mitigation of the H4 extreme zone which could mean we push through the H1 and M15 high.

If we did break through the high at 1.10475 then we can look for buys up to at least the unmitigated order flow at 1.10878 but the there is the potential for the previous H1 high at 1.11372

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