EURUSD short entry zones to watch: EU downtrend continuation

Quick plot to watch some resistance zones for possible continuation of downtrend.

NOTE: This week is FOMC rate decision. So hopefully this move will be done before Wednesday.

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Background:
My EU shorting adventure began in early 2018 while looking for a top around 1.2500

As that top was forming, I saw the Fibs giving me some clues for down move to start

Once it started dropping, I fined tuned the Fibs and EW count to arrive at 1.1500 ad mid target, and 1.070 as final target

I have since been shorting bounces whenever possible:

And again some shorts collection last month:

And now my current plan to look for last few short scalps before FOMC rate decision

Bình luận:

wow, guess I should have labelled these as Support zones and NOT Resistance zones, LOL. But they did prove their validity, just not direction.

the expectations for a FED 'dovish' hike has weakened the dollar quite a bit. And thus the EU climb rather than descent. BUT it might double top at the 5.618 where it rejected earlier. Anyway, no trades triggered, and I would looking for any until after FOMC at this point.

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