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:
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.