Possible E/U short for the week targeting W-M1

1 Hour

If dollar strengthens this week here is a setup to short E/U. Price is at W-M3 currently so try to time an entry today to get priced in early 'OR' if it gets below the W-PP which is also support then look for a role reversal to enter a short at the W-PP. The W-M1 target is down at the 1.1040 zone. Also this is a possible head & shoulder scenario in white circles. Let's see how it plays. Inversely look for a buy setup on USD/CHF as well. Also watch the E/G to fall and that will fuel this trade as well.

Timing the swing on a 5 Min

'If' this plan will work then it needs to start at some point so the 5 min is a likely time frame to show it. It's likely that price needs to 1st show a 78.6-100% retracement as I have planned out on the 5 min chart. 'If' price breaks 100% level of support then there'd be a COT and give reason to continue shorting E/U. 'If' these levels of support (black dotted lines) hold and price makes a new high above 1.1200 then this plan is invalidated.

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