The rapid parabolic hike of Euro halted at 1.12, an important level marking the bouncing point of 23 January. The strong support represented by the bottom yellow line proved itself after the second attempt for a break-out and Euro advanced to the next cable.
Now is a nice time to short Euro against U.S. Dollars with considerably small risk. This is a weekly target.
However, if the upper green line breaks, we are going to update our chart and change our positions to long.
This is our first trade at TradingView. We will introduce ourselves in our next trading idea.
See you soon!