EU finally found support near 1.3730 and now is going through 1.3900.
Fibonacci retracement levels shows us that 1.3865 and 1.3900 are 38.2% and 50% of that sharp bearish move in this pair.
I like it to go through the 50% of Fibo as it is around 38.2% now. But we have got an important economic indicator release today that I think any positive changes in the US. Unemployment Claims will empower US bulls and we can see another sharp bearish move to near 1.3580.
So wait for 8:30 EDT and after a positive change in jobless claims we can go short again. But it's better to go short after a bearish candle in H1 and just beware of sharp moves near that time and I don't like to trade around news releases.
There will be another good opportunity to go short if the new trendline(you can see it in the chart) be broken and go short to see 1.3580.
In other case I think any negative changes in the jobless claims will shoot the pair to around 1.4000 again.
Remember that bearish moves in this pair need recovery in the US economics untill sentiment of people goes through Bullish Dollar and then we can see a great bearish trend in this pair.
Regards
No comments:
Post a Comment