Hello Traders,
the EURUSD broke below the very significant support 1.11701. Our bias is to look for short setups.
We have a minor consolidation between 1.11300 and 1.11514. If this range breaks, it is a good opportunity to set a sell stop order below the support.
Stop loss is then set above the consolidation and the take profit is set at the next support level at 1.10941 confluencing with a 100% extension of the previous impulse.
If the pattern doesn't break. we could see retest at 1.11701 first.
If wish you all a great trading day!
the EURUSD broke below the very significant support 1.11701. Our bias is to look for short setups.
We have a minor consolidation between 1.11300 and 1.11514. If this range breaks, it is a good opportunity to set a sell stop order below the support.
Stop loss is then set above the consolidation and the take profit is set at the next support level at 1.10941 confluencing with a 100% extension of the previous impulse.
If the pattern doesn't break. we could see retest at 1.11701 first.
If wish you all a great trading day!