EURUSD Waiting - 03/10/2017
EUR/USD
The local downtrend for the Euro continues as the price broke down the lower boundary of the previous local consolidation. The fall was quite abrupt, but unfortunately it was on small volume, so we can't point out any fresh volume level. It leads to the absence of the place for a stop loss. That's why we need to wait for the appearance of increased/large volume and creation of a new level, that can be used as a reliable place for a stop loss. Only after that we can consider opening short positions. While the pair is trading on small volume it is too risky to enter the market.
The bottom line: short positions are in priority.
The local downtrend for the Euro continues as the price broke down the lower boundary of the previous local consolidation. The fall was quite abrupt, but unfortunately it was on small volume, so we can't point out any fresh volume level. It leads to the absence of the place for a stop loss. That's why we need to wait for the appearance of increased/large volume and creation of a new level, that can be used as a reliable place for a stop loss. Only after that we can consider opening short positions. While the pair is trading on small volume it is too risky to enter the market.
The bottom line: short positions are in priority.
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