Hello everyone. Euro has been struggling around 1 against the dollar for sometime.
This is a simple short setup on the daily chart with reasons below:
1. Downtrend line
2. 61.8% fib retracement
3. not bad supply zone
I'd like to set an alert round the zone. Zoom in on the 4H or 1H for reversal pattern. Fundamentally, I do think the worst is yet to come. The energy crisis is expected to be even worse in the winter. I don't think market has fully priced in. Previously low 0.9875 would be target 1. I use measured move ab=cd to guess the aggressive target which is around 0.9564.
What do you think? Give me a like if you're with me.
This is a simple short setup on the daily chart with reasons below:
1. Downtrend line
2. 61.8% fib retracement
3. not bad supply zone
I'd like to set an alert round the zone. Zoom in on the 4H or 1H for reversal pattern. Fundamentally, I do think the worst is yet to come. The energy crisis is expected to be even worse in the winter. I don't think market has fully priced in. Previously low 0.9875 would be target 1. I use measured move ab=cd to guess the aggressive target which is around 0.9564.
What do you think? Give me a like if you're with me.
Note
Exactly as what I expected. Note
Yep. The rate hike and geopolitical issues weighed on euro. 
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plan your trade and trade your plan
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.