Do we still have room left for shorts in the EURUSD?

I guess it all depends on the timeframe you trade the EURUSD off of. But I think we still have some room left for shorts, especially for short term traders.

The next LT support level is at 1.2635 and the EURUSD is currently trading at 1.2725, so we have around 90 pips, is it good enough for you?

Here is the chart:

EURUSD

What is interesting about this chart is that if it breaks this support level, it’s likely to continue its way down until it reaches the next support level with is at 1.2150.

Good one huh?

We’ll see what happens.

I’m curious about how my analysis compares to yours… What do you think about the EURUSD?

Let me know.

Tags: ,


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 .

  • Gluva Trader

    Hi Raul Lopez
    I agree with you. But I think the pair must break “your” LOPS1 at 1.2736 (valid break not a false break)
    How about bullish scenario? Is it possible?

    • Raul Lopez

      Hey Gluva, it’s right there… trying to break it… We’ll see what happens. 

      Nope, no bullish scenario is possible in the EURUSD… at least at the current levels. 

      Cheers,

      • Gluva Trader

        Thank you Raul Lopez
        and I still have question for you
        What is the difference between S/R by history And S/R by calculating pivot point (calculating R1, R2, S1, and S2) ?
        Which one do you think is more important?
        Thank you.

        • Raul Lopez

          Hey Gluva,

          I feel more comfortable with historical S&R levels, rather than those calculated by the PP formula… because the same market is telling me those levels are important. 

          Cheers,