LONG SCENARIOS
#1: A re-test of 1.3748 showing some kind of weakness for the bears is a very nice opportunity to go long not only for an intraday trade, but for a swing trade also.
#4: In case of an upmove with a strong close above 1.3820, there is a clear way for Euro to go even higher, this scenario might be a nice confirmation of a swing trade based on the scenario #1.
SHORT SCENARIOS
#2: A strong close below 1.3748 might be a sign of weakness and there might be a room for a further drop, next important support is 1.37040 then
#3: A re-test of 1.3808-1.3820 area defined by the prior swing high and three clusters of responsive selling (long-tailed) bars. A potential reversal here to the downside might be a sign of the weakness and would confirm the lower low there.
FOR DETAILED INFORMATION READ MY BLOG: bit.ly/1j2Vkmc
Petr Suchanek
Forex, Futures & Options Trader
Email: psuchanek@smbcap.com
Twitter: @FlexibleTrader
StockTwits: stocktwits.com/FlexibleTrader
YouTube Channel: bit.ly/17jWiog
Training program: smbu.us/smbwho
#1: A re-test of 1.3748 showing some kind of weakness for the bears is a very nice opportunity to go long not only for an intraday trade, but for a swing trade also.
#4: In case of an upmove with a strong close above 1.3820, there is a clear way for Euro to go even higher, this scenario might be a nice confirmation of a swing trade based on the scenario #1.
SHORT SCENARIOS
#2: A strong close below 1.3748 might be a sign of weakness and there might be a room for a further drop, next important support is 1.37040 then
#3: A re-test of 1.3808-1.3820 area defined by the prior swing high and three clusters of responsive selling (long-tailed) bars. A potential reversal here to the downside might be a sign of the weakness and would confirm the lower low there.
FOR DETAILED INFORMATION READ MY BLOG: bit.ly/1j2Vkmc
Petr Suchanek
Forex, Futures & Options Trader
Email: psuchanek@smbcap.com
Twitter: @FlexibleTrader
StockTwits: stocktwits.com/FlexibleTrader
YouTube Channel: bit.ly/17jWiog
Training program: smbu.us/smbwho