Euro / U.S. DollarShort
EURUSD 1H: Short
Updated
On Friday we had a break below the 1.8000 key-level as well as a break in a trendline, that was drawn from the 3rd & 4th of Aug up until Friday, indicating a move to the downside. This is my first short signal.
I also drew on a Fibonacci Retracement from swing-high before price fell to the swing-low before price started pulling back/retracing looking at possible levels of a reversal off of the 38.2%, 50% or 61.8% levels. The 50% retracement aligns perfectly on the 1.8000 level making this the level I would be paying attention to. This is my second short signal.
Lastly, this 1.18000 has also proven to be a valuable area of support and resistance which was broken as well. This is my third short signal.
All-in-all keeping a close eye on what price look to do hoping for it to reject the 1.18000 key-level and then enter on the short. With stop-loss above structural high and looking to take profits at the recent lows of 1.17250 area.
I also drew on a Fibonacci Retracement from swing-high before price fell to the swing-low before price started pulling back/retracing looking at possible levels of a reversal off of the 38.2%, 50% or 61.8% levels. The 50% retracement aligns perfectly on the 1.8000 level making this the level I would be paying attention to. This is my second short signal.
Lastly, this 1.18000 has also proven to be a valuable area of support and resistance which was broken as well. This is my third short signal.
All-in-all keeping a close eye on what price look to do hoping for it to reject the 1.18000 key-level and then enter on the short. With stop-loss above structural high and looking to take profits at the recent lows of 1.17250 area.
Trade closed: target reached
Took a while but TP got reached.
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