Euro/Usd : 100 pip daily range likely to continue Stop hunt spikes near 1.2250-1.2310 handle is possible since the speculative sentiment index is around 20% and price is consolidating in a 100 pip rage. Upside breakout is unlikely with lack of catalysts- data numbers and holiday. An eventual test to 1.1975-1.2050 area in possible before any further gain.
Trend : Range
Signal : Short Scalp 1.2250-1.2310
Stop Loss : 1.2360
Target : 1.2150-1.2050
Eurousdsignal
EUROUSD IDEAPrice action has once again proved that it works with news. Before the NFP news, price was near the dynamic support of the trendline and as the news broke, there was a sharp rejection to the upside which is normally expected when price meets a support. Drawing my harmonic pattern, i expect price to break through the upper trend line as the overall trend of EU has been downward for a while now. once cannot necessarily be sure of what the Market makers will do but i will be setting my various TP at the different resistance levels i have while using a trailing stop loss and proper risk management system.