This is for intra day traders, I believe EURUSD is drawn to 1.1770 right now because we have very equal high's sitting on the daily chart, I think price will poke through it before the EU continues any sort of descent. Ton's of people have their eyes on that level right now.
The red zone is a heavy volume spot that selling took place last Friday, when price touched it today we got practically no reaction. I'm looking for a buy opportunity if price retests that level because I believe those sells have now become buys. If we get the trade it should happen before 9am and 1.1770 must still be untouched.
I will look to ride up to 1.1780 because that is a good institutional dealing number.
Looks like while I'm writing this price is going to hit 1.1770
Oh well, long week ahead of us.
The red zone is a heavy volume spot that selling took place last Friday, when price touched it today we got practically no reaction. I'm looking for a buy opportunity if price retests that level because I believe those sells have now become buys. If we get the trade it should happen before 9am and 1.1770 must still be untouched.
I will look to ride up to 1.1780 because that is a good institutional dealing number.
Looks like while I'm writing this price is going to hit 1.1770
Oh well, long week ahead of us.