There's a different complexion over EUR/USD this week with the long term Support Trendline succumbing to gravity last week and price struggling to climb back atop 1.16000. This is of course the level of the day, if not the week and I'm trying to hold on to my medium term vision of the pair hitting 1.2000 - perhaps it was a dream? The facts are that a potential reversal appeared on Daily bar yesterday and price has re-entered my 3 month old range (1.1600 - 1.1800). Unfortunately, the Bulls have driven price forward at a very awkward time of day (sleep time), after a nice pullback through yesterday's US Session which delivered the higher Low I was seeking to enter Long. There may exist an option to enter almost 30pips later on H4 but I'm NOT a huge fan with an untested DP beckoning below. If the reversal is on however, it may be the last chance to enter before price takes off. Hmmmm - a hump day dilemma then that might just be resolved with a DP Test (1.1585) and false break of the Support confluence that lies there in wait. It's Plan A for the day.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.