EUR/USD Potential Short
Hello traders!
After a huge drop and a fake break of Buy Zone at 1.15530, the pair started to gain momentum. The 0.5 FIB Level proved to be a significant level after the price struggled there and fell to 0.38 FIB Level. I believe that the price will now reach 0.61 Fib Level or enter the blue supply zone. A short position is appropriate there if we see a confirmation and price action. I am going to put my SL past the 0.78 Fib Level and the TP1 to 0.5 and TP2 to 0.38 Fib Levels.
After a huge drop and a fake break of Buy Zone at 1.15530, the pair started to gain momentum. The 0.5 FIB Level proved to be a significant level after the price struggled there and fell to 0.38 FIB Level. I believe that the price will now reach 0.61 Fib Level or enter the blue supply zone. A short position is appropriate there if we see a confirmation and price action. I am going to put my SL past the 0.78 Fib Level and the TP1 to 0.5 and TP2 to 0.38 Fib Levels.
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.