Month Support held at the 81.500 level, strong bullish close of the previous Week's candle momentum heading higher towards the key Week resistance level of 84.300. Further Day resistance is just above this level at 84.500. Looking for a fail of the 84.500 area before entering a short position 1.2RR Trade Sell limit 84.500 Stop 85.100 Target 83.900
Month Support at the 1.15000 level has currently held although the close of last months candle still shows overall bearish momentum. The Weekly candle which also closed below the key week support level of 1.17150 also confirms bearish activity and will now act as potential resistance. Looking for a fail of the 1.17150 area before entering short. 1.7RR Trade Stop ...
Month Support Held at the 1.15500 area. Week Resistance area of 1.17150 has been successfully breached, price heading towards the next key level which is day resistance at the 1.18300 level. Looking for a fail of the 1.18300 area before getting SHORT for the retrace back down to the 1.17600 level. 1.36RR Trade Stop 1.18800 Target 1.16015
EURUSD likely to head lower after a convincing close through weekly support at the 1.17100 level. Momentum is therefore likely to continue lower to Monthly Support at 1.15550. 1:1 Risk reward short trade with stop being placed above the previous days high of 1.17380 and a take profit level of 1.15650