Bears continue to take control of this market as price breaks to the downside. Could we see a retest of previous support before further movement to the downside?
We forecasted a break to the downside because it was in line with our HTF directional bias on the pair. For more - just drop me a private message!
The euro continues to resist dollar bulls by holding this level.
Long wicks to the downside in recent price on the 4HR show bulls trying to push price down and break this level but failing.
Can see price might trade in this 50 pip range for the rest of the week. However, be ready to adapt your directional bias if we see a price break down through this...
Hi there,
So, okey, now I think EURUSD will go all the way up to 1.1200 to test that resistance. Hopefully we will see some more upwards movement during this week, but we may also have to wait untill next week untill some movement happens...
You can look at my chart, tell me what you think, and maybe I am on to something...
Thanks, and happy trading.
Bull trend is still in place so far so the best probability remains to buy every retracement to follow the flow.
Always calculate the cost of the stop to properly size your trade (cost should not exceed 5/6% of your account)
Feel free to ask if you need more details about my trading tools and ideas.
This graph and comments can be updated during the european...
