Currently sitting just below 1.4100 as we enter the Euro session a further pullback is the most likely possibility with a push higher continuing the uptrend in later trading. A retracement below 1.4060 could indicate a pullback as far as 1.3960 although some support is expected in the 1.4000 area.
Anyone want to take a guess on whether this head and shoulders works out? I think the market is really pushing hard for this decline, and I think it will be one of the rare ones that do work. 4 hour chart, by the way
I am short from 1.42's on a swing basis and looking for a move to 1.36's Focus on your trading plan and money management and the rest will fall into place.
Sell this small rally on the Eur/USD at 1:37 EST then take your profits ~40-45minutes later. You're welcome.
1:37 p.m.? Why do you think it will reverse at 1:37? Thanks, ratio. My money management plan is extremely refined, but you're right in that I need to re-adapt my trading plan to the market. That's what I'm working on now.
OK we are back on track now. Let the euro make its move then fade the move at 2:10-2:12-that's when the big move is coming.
That was 13 ticks, right on time. There's major divergence right now that it needs to work out to the upside. 5:35 will be next reversal. I will share longer outlook later tonight and into the morning. I'm using quantitative analysis.