Good morning. Off-topic question: does this site load slow for you? I’ll make some changes in the coming days to make it run faster i.e. hosting location, disabling most plugins etc.
Back to our charts.
Euro keeps getting closer to recent lows in the 1.27 area and so there’s just no reason to expect seeing a strong recovery yet. Selling into minor rallies is probably the best bet for now. The upward trendline highlighted last week (and below) has been breached and is now providing resistance
Market sentiment: intraday – bearish, short-term – bearish
Potential trade strategy: to sell on pullback to 1.2900, stop above 1.2960, target at 1.2800 and lower
In my last post the trendline was being tested from below, while being short since the breakdown, and I was wondering whether it was one of those moment when it’s best to be patient. We are 200 points below those levels now so, yes, patience is golden
Market sentiment: intraday – bearish, short-term – bullish
Potential trade strategy: to sell on pullback to 1.3630/50, stop above 1.3700, target at 1.3500
The setup looks good as a breakout provides a buying opportunity with a tight stop – just below the support zone between the two lines
Market sentiment: intraday – bullish, short-term – bullish
Potential trade strategy: to buy @market, stop below 1.0500, target at 1.0650
have a good day