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by u/linh78·4dAnalysis

Daily Open - EURUSD setup

Watching $EURUSD this morning. The move lower has been pretty clean, but we're approaching some prior support levels around 1.1400. Not looking to fade it just yet, but will be keen to see if any consolidation develops there or if sellers maintain conviction for a push towards 1.1380. Any retrace towards 1.1450 would be interesting for a short entry.

3 comments · 11 points

3 Comments

u/emily_lee·3d

Good point on the 1.1450 retrace. That would be a sweet spot for a short if it gets there, but I'm not convinced we'll see that much of a recovery given the recent momentum.

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u/mei.choi·4d

I'm with you on watching the 1.1400 level. Definitely feels like a key decision point for the pair. I'm leaning towards a bounce there myself.

5
u/thanawat25·3d

Interesting take. I actually think sellers still have plenty of steam. Might see a brief pause at 1.1400 but the path of least resistance looks lower to me. Waiting for a push to 1.1380.

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