Last Friday, I did a short on EURUSD as the price broke below a rising structure.
It was expected that the volume was not going to be high since it is coming to the close of the trading week.
Today, we saw that the price gapped down, and the gap has been recovered as of now.
Thus, given the bearish structure and a weakening euro, we can look to short EURUSD again as it retraces back into the supply zone.
It was expected that the volume was not going to be high since it is coming to the close of the trading week.
Today, we saw that the price gapped down, and the gap has been recovered as of now.
Thus, given the bearish structure and a weakening euro, we can look to short EURUSD again as it retraces back into the supply zone.
Note
1.60 has been defended yesterday. It is definitely worthwhile to short at this level with a very tight stop loss just above 1.60.
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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.