2016-03-31_01-02-25eurusd

Dear all,

Today I had the pleasure to speak with two US traders.

Both of them are placing short trades on the eurusd daily chart.

The main reason is that price is at a recent level of resistance.

I am normaly more cautious and would like to wait for one more candle.

If the resistance holds tomorrow and we get a shooting star, hanging man, evenning star or bearish engulfing candle then price is more likely to head down.

If on the other side the orange line breaks with a bullish move overpassing the 1.13900 level and the swing highs have been taken out then a continuation of the bullish move is more likely to happen.

I wish all the BEST OF PIPS

2 thoughts on “How to possibly play the EURUSD”

  1. Ryan Gandalf van Jaarsveld says:

    Thank you Nuno – I am keeping my eye on this one.

  2. Jim Reddihough says:

    Thanks Nuno. That’s what I was thinking one more push and sell with a stop around 1.15

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