The EURUSD bounced from a clear long term resistance level (1.4330), but now the questions is, is this the beginning of a THE retracement? We don’t know yet, what we do know is that based on the chart bellow, it should reach at least 1.3877…
Definitely long opportunities are out of play at least for the time being, so what would be the trading plan for the EURUSD?
I will wait for the market to break 1.4107 (green support line) to look for short opportunities, if the Euro breaks this level down it should take it to 1.3868.
Tags: EURUSD Analysis