EUR/USD; Short? or Long?
The EUR/USD seems to be in a bit of a pickle, there was a false breakout represented by the ABCD shape, but there seems to be a reason behind that as the Coppock curve shows that it provided past support for that decline, so I would ignore the false breakout. But, the currency pair has reached a crucial resistance point, this is also represented by the 100 EMA, providing this resistance. Furthermore the 50 EMA is providing the support, so I would short just in till it has stalled in the green region, then sell. But, if a upward breakout occurs then I would sell my short position and go for the buy.
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.