EURUSD Testing Trendline and median zone

If you've seen my last video on the EUR/USD, I was looking at 2 trendline levels to potentially take a trade from. The EUR/USD has popped to that upper trendline and Median level to find some resistance. A short limit order was initiated at 1.0788 and will hold this for the time being.

The Cautious side of this trade is that the market still has a gap that it may still want to fill up over 1.0800 so that will be watched going into the final day of the week. Stop losses are set and will wait to see if the market respects that resistance zone or pushes back above 1.0800.

Always manage risk.

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So far the selling pressure has worked out well. Targeting the main pivot zone around 1.0600 and 1.0500. Currently riding 115+ Pips.

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The EUR/USD Bears are still putting in work on the Bulls. Short position remains in progress. Let's see if the bears can push this further down to end the week.

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Start to the new trading week. Euro bulls trying to keep price up however, the bears have different plans. The decline towards 1.0600 - 1.0550 is still patiently ongoing.

Real Bear strength remains to be seen going forward.

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Late to the party but once we closed under the trendline, I added another short at 1.0645. Holding still.

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Target has been reached for a combined 260 Pips however, I may hold on a bit longer as the longer timeframes may signal a continuation to the downside. Will watch and wait for confirmation to hold or close the trades.

Transakcja zamknięta: osiągnięto wyznaczony cel:

Price moved towards the Pivot and hit the original target. After the bounce at the yearly pivotal zone, the trade was closed.