| Eurusd
Well impressive indeed.
Since we are on a kind of a juncture of a minor trend important however on the longer term development.
Below 1.2487/1.2525 reversal to 1.21/20 is the most probable scenario.
Break above 1.2525 will open the road to 1.26/27 levels which is also very possible. So I hold neutral bias to slightly bearish.
I'm trying short from here (@1.246) with stops just above 1.2525 but will move them to break even on proper development.
First short term support is around 1.2450/30 which is the first level to watch. If price bounce from this level above recent high then it's to 1.2525 to determine the near term direction. If it hold down to 1.21/20 if it breaks, to 1.26 and above.
In my thread - post #6 I have published the possibility of this kind of a scenario.
On the downside we are seeing the same previously resistance levels now support @ 1.2390/2370/2355
Breaking of 1.2370 will increase the probability of continuing down, and break below 1.2355 should confirm that.
As I was writing this, price fell to 1.2456 and it's now back to 1.2463. Break above 1.2465 will increase probabilities of continuing to at least 1.2487 to 1.2525 and possibly above.
Just while I'm writing something that could look like an impulsive move down is starting to unfold.
But it is far from the confirmation so the bias is still neutral to slightly bearish and I'll use this development to lower my stops to break even.
ID
it is about to hit fist support at 1.2450  |