EU has found itself stuck in consolidation between fibonacci levels; now above 1.1305 but below 1.1385, the 23.6% and the 38.2% retracements.
Price pierced out of range but lacked follow through, and with RSI holding a bearish stance I personally favor another leg to the downside in the near term.
Short position opened at 1.13550 ( set stop loss appropriate to your own %risk )
The more major support levels I'm looking at as targets for my swing account would be 1.13050, 1.1260, 1.1220
Aside of my swing account I also take scalps/ day trades utilizing binary options..so my chart may look a bit messy but on the smaller 5min - 1hr timeframes I take trades of off each marked level.
*If price makes a clear break above entry level at 1.13550 I will take a hedged position with an options trade and cut swing trade at proper SL.
Happy Trading
-Krecioch
Price pierced out of range but lacked follow through, and with RSI holding a bearish stance I personally favor another leg to the downside in the near term.
Short position opened at 1.13550 ( set stop loss appropriate to your own %risk )
The more major support levels I'm looking at as targets for my swing account would be 1.13050, 1.1260, 1.1220
Aside of my swing account I also take scalps/ day trades utilizing binary options..so my chart may look a bit messy but on the smaller 5min - 1hr timeframes I take trades of off each marked level.
*If price makes a clear break above entry level at 1.13550 I will take a hedged position with an options trade and cut swing trade at proper SL.
Happy Trading
-Krecioch