A tough one with recent Dollar weakness though worth a shot with a setup. I have Dxy coming up off support though role reversal resistance at WPP for a lower high is not bullish. Having said that – the ECB don’t want deflation which is the result of a higher exchange rate. SL at break even – hero or zero. Inflation data out later today – higher exchange rate might bring it down and raise concern for ECB not to normalise anytime soon. EURJPY short could also be a winner.

EURUSD H4

Bears sell at WM3. Bulls buy at WPP/ WM2. WM1 target confluence with price action support. A move higher to WM4 - great counter trend trading opportunity.

EURJPY H1

WPP down to WS1, pull back to role reversal and a move down to the weekly target.

3 thoughts on “EURUSD No Fly Zone (higher even better)”

  1. frank says:

    you also thinking what im thinking.nice plan

  2. Giveness Tshiimomo says:

    Maybe one can catch it on the 1 minute chart, going short at role reversal, seeing how we are cureently at WM3

  3. Hadyn S. says:

    I like both shorts. I missed shorting EUR/JPY on Thursday, after it crossed over 55/100 on the 1hr, then pulled back to a nice fib. The EUR/USD was doing the same thing at the same crossover on Fri, but my hesitation paid off on that one. It “FREAKED OUT”. Hopefully we all get in decent and start the week off pippen! Thanks for the post Ryan

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