EurUsd gives us the same scenario as in GbpUsd, I think there are ongoing distribution phases that will be completed at 1,1 level.
Ideally, I would like to see a rally in the first days during the week and hit our EQ of our two key resistances. Should follow by immediately sell-off. Targeting 1,1 level.
IF NOT and price will break 1,16 level and holds as newly created support, then I will long and targeting 1,12 + 1,124.
Strategy as follows:
- keen eyes on two projected resistances with EQ. I would like to see if the price can find resistance at high and EQ and sell-off.
- It can also happen if the price will sweep lows first, I am talking about 1,1 area in the first days of the week. If yes, then I will long there and targeting our key resistance + 1,12 + 1,124.
Ideally, I would like to see a rally in the first days during the week and hit our EQ of our two key resistances. Should follow by immediately sell-off. Targeting 1,1 level.
IF NOT and price will break 1,16 level and holds as newly created support, then I will long and targeting 1,12 + 1,124.
Strategy as follows:
- keen eyes on two projected resistances with EQ. I would like to see if the price can find resistance at high and EQ and sell-off.
- It can also happen if the price will sweep lows first, I am talking about 1,1 area in the first days of the week. If yes, then I will long there and targeting our key resistance + 1,12 + 1,124.
Note
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Note
Euro has played out perfectly as we have wanted. We were expecting resistance - looking for shorts - at EQ and high resistance level. As you can see, the main sell pressure was right at EQ and then tapped exactly to the pip to our high range level, followed by rejection and strong sell-off. Well, I call it a very successful week in $EurUsd.Note
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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.