As we saw in our analysis yesterday, we expect the downside move on EURUSD to continue.
However, that doesn't mean we won't see any pullbacks, which is in fact what we're waiting for in order to make an entry.
Right now, we're looking at an entry from 1,1618 and there's two options.
The first one takes less time but carries more risk. We can use a pending order at this level and once price reaches it we will be in a trade immediately.
If you have the opportunity to look at the chart on every hour, I think it's better to wait and see a rejection of this level and then to enter a trade.
In both scenarios we expect to see price below 1,1534.
However, that doesn't mean we won't see any pullbacks, which is in fact what we're waiting for in order to make an entry.
Right now, we're looking at an entry from 1,1618 and there's two options.
The first one takes less time but carries more risk. We can use a pending order at this level and once price reaches it we will be in a trade immediately.
If you have the opportunity to look at the chart on every hour, I think it's better to wait and see a rejection of this level and then to enter a trade.
In both scenarios we expect to see price below 1,1534.
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