EurUsd Analysis: 03/07/19 - 1.10?


What a day - Eurusd was shorted - Down 120 pips.

Two key supports (1.13, 1.12) were not valid.
Almost everyone is talking about the 1.10 low in the next few months (0 - 3).




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For me, I will wait how it play out during this weekend to decide.

The two answers are on the table: Only time can tell

1. Would it pull back 1.1230 - 1.1250 before resume down trend.
2. Should I sell now or wait to sell when it pulls back?

I have developed two possible plans and decide by next week.

Strategy 1: Descending triangle breaks down

Sell when price pull back?


Strategy 2: Down trend channel


Would lower channel act as temporary support before heading to 1.10 (180 pips)?

Both strategies are leading to possible 1.10 low level. Unless price is back to above 1.14 level, the down trend is on the table.

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