Quick look on EURUSD that recently retraced from previous lows of 1.08 and currently testing resistance levels at 1.095 while is at overbought levels on 4h Stoch and at 236 Fib levels but also around psych levels 1.1. Should this significant confluence fail we can see price heading towards next resistance at 1.11 levels which is also Fib 618 level.
Conclusion:
Short term: looking forward to rejoin bears. Aggressive entry at current levels possible with stop loss above 1.1 levels .
Long term: Bear from previous resistance either 1.09 - 1.1 or 1.11 levels
Conclusion:
Short term: looking forward to rejoin bears. Aggressive entry at current levels possible with stop loss above 1.1 levels .
Long term: Bear from previous resistance either 1.09 - 1.1 or 1.11 levels
