EURUSD Price movement prediction 28-09-2020

2020년 9월 27일

Using the triple trap strategy, these are possible setups of this pair EU has been in down trend ( we can see it making lower lows nd highs). On Friday it broke the previous support, which tells the EU may drop, currently waiting for the retest to the zone and if we draw Fibonacci, we can see the previous support aligns with the 61.8 zone. this shows that it is a high probability setup for sell.

the triple trap strategy is trapping price between a channel, SNR and a possible trendline opposite to channel. In this way we can predict the next movement of the price by seeing the price respecting either one of the traps( a channel, SNR and a possible trendline).