Hello everyone:
Just like the previous trades I posted on USD pairs and GOLD, EURUSD is also sitting on strong resistance area of 1.1900 and over extended. On the 4 hr chart, we see a clear break down from the channel, signalling the bullish momentum may be exhausted, and a pullback on the daily chart may occur on EURUSD. This week I am looking for a intraday pullback, lower high to confirm and enter a short position down to the 50.00% area, as well as a the support trend line as a target.
Thank you for your support and feedback.
JoJo
Just like the previous trades I posted on USD pairs and GOLD, EURUSD is also sitting on strong resistance area of 1.1900 and over extended. On the 4 hr chart, we see a clear break down from the channel, signalling the bullish momentum may be exhausted, and a pullback on the daily chart may occur on EURUSD. This week I am looking for a intraday pullback, lower high to confirm and enter a short position down to the 50.00% area, as well as a the support trend line as a target.
Thank you for your support and feedback.
JoJo
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