HELLO TRADERS, EVEN THOUGH THE DOLLAR LOST STEAM ON WEDNESDAY MY BIAS STILL REMAINS BULLISH ON THE DOLLAR AS LONG AS WHISPERS OF FURTHER RATE HIKES CONTINUE.

EURUSD DAILY

MARKET IS SIDEWAYS. PRICE OPENED UP AT MM2 & PIVOT TARGETS SUGGEST PRICE IS HEADING TOWARDS MM4. RESISTANCE ZONE IDENTIFIED BY ORANGE BAR. STOCHASTICS IS OVERBOUGHT. THE IDEA HERE IS TO WAIT FOR PRICE TO GET TO THE TOP OF THE RANGE (1.08000) FOR A POSSIBLE SHORT SETUP.

EURUSD H4

MARKET IS ALSO SIDEWAYS ON THE H4 CHART. ACCORDING TO THE 5&8 MOVING AVERAGES, PRICE IS BULLISH AS THE 5 IS ABOVE THE 8. RESISTANCE IS AT THE TOP OF THE RANGE AT WR2/1.08 SO I WAY PAY CLOSE ATTENTION TO THE ZONE MARKED IN ORANGE. STOCHASTICS IS ALSO OVERBOUGHT ON H4.

EURUSD H1

MARKET IS BULLISH & PRICE HAS MADE HH & HL. STOCHASTICS ALSO OVERBOUGHT ON H1. AS A BEAR I AM WAITING FOR PRICE TO GET HIGHER AT RESISTANCE, ONE WOULD EYE THE CLUSTER OF RESISTANCE AT DM4/1.08 PSYCH, DR2 WHICH COINCIDES WITH WR2.

2 thoughts on “EURUSD SHORT SETUP”

  1. Teboho Faro says:

    Great setup man. We all eyeing it

    1. Pedro says:

      IT HAS THE POTENTIAL TO BE AN AWESOME TRADE, BUT I THINK IT MIGHT BE A TRADE FOR SUNDAY NIGHT GIVEN HOW QUIET THE MARKET IS TODAY.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.