EURUSD | 1.1200 has failed, let's sell a retrace
מעודכן
On April 24th, we saw the shared currency drop below the 1.1200 level and stay down below this key support.
The two red circles I've drawn in show the recent bounces off this level and no doubt many bulls had their hoped pegged on another bounce.
With price looking weak, we should be looking to sell.
I'd like to sell off bearish price action somewhere around the 1.1180 to 1.1220 area. It's not an exact level, its a zone we're aiming for here traders.
My first target will be when/if price reaches the trendline I've drawn in - probably just north of the 1.1050 mark.
The two red circles I've drawn in show the recent bounces off this level and no doubt many bulls had their hoped pegged on another bounce.
With price looking weak, we should be looking to sell.
I'd like to sell off bearish price action somewhere around the 1.1180 to 1.1220 area. It's not an exact level, its a zone we're aiming for here traders.
My first target will be when/if price reaches the trendline I've drawn in - probably just north of the 1.1050 mark.
הערה
Time to update this one.I was looking for bearish price action, and yesterday, the Fed provided it.
Price pushed all the way up to 1.1266 before retreating back down to the 1.1200 level.
Sell on? Almost.
For the bears to really be in control, we'd have seen a close below those two swing lows I have drawn in. Instead, we're looking at a close back at the 1.1200 mean - and we need to see if Price wants to continue going down, or tread water for a bit here.
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