My Intiutive Guess at EURUSD's Short Term Future Price Action
Price ranges for a while as the candles continue to eat away at the momentum of the 50 MA (red) and eventually flatten it. Volitility should decrease for the next couple of days, perhaps allowing for another 50 bollie squeeze to happen again soon. Price will take this time to close some, or all, of the gap to the 200 MA (pink).
In any case, not a whole lot to swing trade here. The best current trade was shorting at a test of the 50 MA, target the recent swing low, or fibs 1.272 extension, IMO.
In any case, not a whole lot to swing trade here. The best current trade was shorting at a test of the 50 MA, target the recent swing low, or fibs 1.272 extension, IMO.