I was wrong on the move for EURUSD yesterday as it sold down to new lows. The buy levels given were good for scalps only as price consolidated within the PZ for some time before the break lower.
I have no strong views for today TBH. I do see Friday's bullish candle as buyers are present. Thus despite yesterday's strong sell down, I see market is trying to find a bottom. 1.0808 is a strong double support, thus could act as a possible bounce level but in view of the bearish price action yesterday, one would need to see the reaction and require a bullish confirmation to do so. 1.0741, the next strong level would be a level I will look for a more probable bottom. On the short side, if EURUSD recover to the top of the PZ 1.0840 and is rejected by it, one could look for short opportunities for a move lower.
I have no strong views for today TBH. I do see Friday's bullish candle as buyers are present. Thus despite yesterday's strong sell down, I see market is trying to find a bottom. 1.0808 is a strong double support, thus could act as a possible bounce level but in view of the bearish price action yesterday, one would need to see the reaction and require a bullish confirmation to do so. 1.0741, the next strong level would be a level I will look for a more probable bottom. On the short side, if EURUSD recover to the top of the PZ 1.0840 and is rejected by it, one could look for short opportunities for a move lower.
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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.