EURUSD: We are still in a bearish condition

Even when the EURUSD got a wild correction yesterday, clearly seen in the daily chart (nice hammer) we are still in a bearish market condition:

EURUSD
EURUSD

Why bearish market condition? Simply because the EURUSD broke through an important support level, and it is likely to continue its way up until it hits the next LT support level.

Now, If you like to play safe, just wait for the EURUSD to break the ST support level at 1.2313. (Also forget about short positions if the Euro breaks the 1.2420 level for the upside).

Either way, I think there are other currency pairs with a clearer market condition.

Trade Safe!

Raul Lopez
http://www.protradingnow.com/

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Raul Lopez

I've been trading the markets for more than 15 years. I believe the best way to trade is by adapting to the market conditions. You can learn it too, join our community .