Price has hit a significant trendline that runs from the 11 March 2015. This area also coincides with R1 resistance. SHORT now from 1.1315 STOP 1.1327 for a 12 pip risk. Target to be determined.
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Yesterday price punched through my tight STOP briefly so I re-entered SHORT from 1.1317. I've a just better than b/e STOP and my target is open ended.
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38.2 Monthly fib comes in at 1.1209 which may halt the BEARS and under that the 200 sma and 200 ema sit at 1.1160 area. I have a STOP on this trade at 1.1325 just above the last high for -8. Price is now held under the 200 sma om M15 so I'm looking for more EUR weakness. Retail Sales numbers up at 1:30 and Prelim UoM Consumer Sentiment will most liklely have an influemce.
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Still holding EUR/USD SHORT from 1.1317. Key levels to look for are 1.1156 support, 1.1085 support and below that the 200 sma and ema coming in at 1.1012 and 1.0951 (area).
WS1 at 1.1082 being very close to 1.1085 historical support may send EUR back north but I believe we will see quite a deep retracement on this pair.
WS1 at 1.1082 being very close to 1.1085 historical support may send EUR back north but I believe we will see quite a deep retracement on this pair.