Looking for short continuation EURUSD – the week of 27 Feb
Updated
The USDX (USD index) has been bullish recently and ended last week with a massive bullish candle. As a result, EURUSD has been declining and I cannot see any reason why this should change next week. Price is currently within an intermediate S/R zone and a pullback is likely. The deeper pullback we get, the better it will be. That would be great because that will provide a good price to take a short and a smaller stop.
My recommendation would be to switch to a lower time frame such as H4 or H1 and look for signals that the downtrend is resuming. Targets can be located at next support areas near 1.040 and then the parity level of 1.000.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
My recommendation would be to switch to a lower time frame such as H4 or H1 and look for signals that the downtrend is resuming. Targets can be located at next support areas near 1.040 and then the parity level of 1.000.
Nothing is 100% in trading, so as always, use sound money and risk management and stay patient in all your trades. If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
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