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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 · 4 points
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.
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.