After setting up a bull trap that makes technical traders think that any pull back may happen (at least 3 analyst in the webinar I watched saying pull back may happen) after the good bullish bar at the first day of the month Euro keep pushing lower and breaks two weekly supports.
targets and idea :
No signs of recovery yet but pull back may still happen with 1.295 as first resistance and 1.313 max and a downside target around 1.265.
the idea is to look for short entry inside 1.295-1.313 if you trade full time with daily chart either by pattern or divergences. Or look for long entry around 1.265 for any bullish pull back into 1.284-1.295 level IF it reaches there first before the pull back.
Visible long term target for this pair is still 1.23
On the chart above I have weekly and monthly fibonacci pivot levels, I use fibonacci pivot because this type of pivot really fit the price action.
targets and idea :
No signs of recovery yet but pull back may still happen with 1.295 as first resistance and 1.313 max and a downside target around 1.265.
the idea is to look for short entry inside 1.295-1.313 if you trade full time with daily chart either by pattern or divergences. Or look for long entry around 1.265 for any bullish pull back into 1.284-1.295 level IF it reaches there first before the pull back.
Visible long term target for this pair is still 1.23
On the chart above I have weekly and monthly fibonacci pivot levels, I use fibonacci pivot because this type of pivot really fit the price action.