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Watch for up movement on EUR/USD
We saw the price movement on the EUR/USD pair go just under the 1.1740 support line and consolidating at the same point. This is an indicator that the price has less chance of continuing its downside and good entre for risk reward management
1st push down
We saw the 1st push down on the EUR/USD pair indicating a reversal so expect a price movement around 1.1750 for a continuation on the same side of the market
EUR\USD 2nd push up
As discussed in yesterdays blog, we were expecting a up move. We did not see any pull back before the push so I did not get in but now we can expect a 3rd push up
Sideways channel on EUR\USD
We are starting to see a sideways channel forming on the eur\usd pair indicating that their might be big price movement coming up with greater rejecting swings. With the american session canceling all the euro down movement, expect the up side to rally a bit more
Dip down on EUR\USD
We saw a dip down under the support on the eur\usd pair with no continuation giving us a good trade opportunity with good risk reward on the call side.
EUR/USD uptrend
With the beginning of the day with saw a double bottom form indicating us a upmove that concords with the new short term uptrend. Good risk reward trade