EURUSD: Good for Shorting with 1.16000 Target
Euro Fx/U.S. Dollar FX:EURUSD
I would search for short opportunities in the hourly charts. The market looks bearish in spite of the uptrend. We have new swing lows and highs which are building a new bearish structure. MACD is bearish and supports a further downward movement. All pullbacks and reversal signals will be good for shorting. The main target is 1.16000 support.
If we talk about buying, I would wait for the price reversal from the support. It will give us a good entry point and workable stop.
And what about you? How will you trade in this market during the next week?
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Source: TW DLavrov