As a bear on EUR I m gonna look for opportunities to sell this pair.
Fundamental news that may affect the trade plan:
CPI from China that will affect AUD.
GDP from Germany affecting EUR.
MARKET DIRECTION:Bearish 21 below 55 ema. PRICE DIRECTION: Bearish 5 below 8 ema. RESISTANCE: #1. Psych level 1.3900.#2 Bear Fib Zone and Dynamic resistance 21 ema or psych level 1.400. SUPPORT: PSYCH LEVEL 1.3800 or MM1 The pair opened the month at MPP , it already started the move down , I m gonna wait for it to come back to the FIB zone to sell it.
MARKET DIRECTION: Bearish 21 below 55 ema. PRICE DIRECTION : Bullish 5 just crossed above 8 ema. STOCHASTIC : Moving up RESISTANCE:#1. Psych level 1.3900 Confluence DPP. # 2. WPP which coincide with DM3. #3. WR1 confluence DM4 and Psych level 1.400. SUPPORT: WM2 confluence MM1, psych level 1.3800. H4 stochastic is going up , once resistance reached I will look at smaller time frame for optimal entry .Wait for overbought stochastic. If I sell at WPP or DM3 pivot target will be WM1
MARKET DIRECTION:Flat 21 and 55 ema flats. PRICE DIRECTION:Flat . STOCHASTIC : Flat RESISTANCE: #1.DPP or psych level 1.3900. #2. DM3 confluence WPP, fib level 61.8. #3. DM4 , psych level 1.400. note : once resistance reached I will look at M5 for best entry , wait for pair to start making lower highs and enter at a lower high.
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About The Forex Analyst
Degree in financial management. owner and founder of Senatla trading enterprise ,transport company