EURUSD – Return of the USD strength? Heading for 1.04500
We had a break out of the ascending CTL yesterday which gives me reason to believe another Bearish run could start. A break of the 200 EMA @ 1.06150 with confirm the bearish bias as will remaining below 1.06600. We have entered a small position at market price after having a good rejection off the 50% fib retracement of the impulsive move out of structure Another position will be added on a break of 1.06150 and then potentially again at 1.05800
In Other View Point – EURUSD TO TEST THE ESTIMATION BY CHANNEL STRATEGY
Traders: Channel and RSI are the most important tool for us to estimate price action. Now before ECB, we would like to make a plan based on the channel strategy like this: 1.1/2 lot short trade entry at 1.07 2.1/2 lot short trade entry at 1.08 tp1: 1.06 tp2: 1.05
In Other View Point – EURUSD Potential trade both ways
Potential trade both ways, look for a break to the downside of the current correction as this seems more likely, otherwise if the price breaks to the upside then look for a correction to the downside for a confirmation and take the trade to the upside but use your own strategy in either case.