Short

EURUSD - Spike low sets up a corrective move.

Updated

After a spike low on Friday we now look for a correction before more downside.
If it doesn't bounce and breaks below 1.0840 then I will have to adjust to a new move, but for now this is the best looking scenario.
Once this smaller move completes that will give us the upside target where I will look to Sell.
An Intra-Day look but I will post the longer term outlook as well.

Enjoy the week. Plenty happening.

Note

A little more detail as to why I'm looking at these areas.

Enjoy the Day.

Note

Bigger long term target towards 1.0700-1.0750. But get this first move done then we look at the others.

Note

After not getting the PB I was looking for we now what for a low to come in and then give us the next signal. At this stage there looks to be at least one more move lower.
I will Update this once the move has started as it will give us target areas to watch.

Note

After continued selling and a spike low around the US Data on Friday there should be some sort of a rally here up towards the 1.0870-1.0900. If all we get is a rally to the 382 around 1.0836 then that will send it back down into the 1.0600 area.
With one more Interest Rate decision on Wednesday anything is possible..
Enjoy the week. I will update as we go.

Note

Updates tomorrow on FX Markets as we have Inflation data and the US Interest rate decision later. A major Change in Trend Window today as well.

Enjoy the day.

L_F

Also on:

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.