Friday, 5 May 2017

Currency Trader - EUR/USD Technical Analysis

EUR/US sustained move under 1.0987 will signal the presence of sellers. This could drive the EUR/USD back into the major Fibonacci level at 1.0932, followed by an up trending angle at 1.0881.
Watch the price action and read the order flow at 1.0881 if tested. We could see a technical up bounce on the first test of this angle, but if it fails then look for the selling to possibly extend into 1.0819 and 1.0796.
Watch the price action and read the order flow at 1.0987. Trader reaction to this angle will set the tone for the day. Happy Currency Trader
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