In this Daily Trade Watch report, we look for high probability trade setups that we can trade throughout the day. Today, how EUR is under more pressure again.
Looking at the markets, we can see that the euro has seen a bit of bullish sentiment creep in over the last couple of weeks. However, when we look at the charts technically, we can see recent price action has been consolidating around momentum highs at around the 1.1340 level. This is what the bears are looking for to give them a bit more confirmation that prices are likely to start pushing lower. As a result, we are looking for opportunities to sell the EURUSD below 1.1280.
The same can be said for the EURJPY. It is similar but probably cleaner price action to work with. If prices break below yesterday’s low of 122.41, it very well may give us good opportunities to push prices lower.
EUR Under More Pressure Again – Full Video Analysis
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