EURUSD didn't hold the ECB key level support, and closed below it. If today's bar plots a daily HIGH above the 1.7490 mark on close, we might still have a chance to enter longs tomorrow, on a break of today's high, and stop under today's low. Right now, I'd reccomend waiting one session, and monitoring the activity as I describe.
This chart depicts the ECB key levels, in light blue, solid lines, for the 2015 levels, and purple for 2016 levels. Thinner lines, are less significant reactions, which have lower probability of affecting price action. The dashed lines show the Brexit, Jackson Hole and US presidential election key levels, which coincide with the biggest VIX spikes this year.
There is a weekly range expansion decline, so we have to remain vigilant. If price doesn't hit 1.05454 before December 5th, we have bigger odds of a reversal to the upside. Good luck,
Ivan Labrie.
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Today's bar is critical, let's see how it develops, it might trigger an intermediate term buy signal, but it could also just make a new low first, and then turn and close near the highs. That would give a low risk buy, but need to see how prices act intraday.
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Went long:
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..."turn and close near the highs" This is what I expect today, we have the bottom in the Euro here.
Trade ist aktiv
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We did bottom but price action didn't confirm upside, and we broke down during lower liquidity trading hours, and hit everyone's stop. (I got out in minor profit luckily).