Vladimir Ribakov maps two scenarios for EUR/USD. If the supply zone at 118.10-117.70 holds, the pair drops to 116 or lower. If it breaks, expect a rally to 119-121 before reversing back down.
at least on the short term. So there are 2 scenarios I see on the euro dollar at the moment. We do see 3 lower highs, lower lows, which could be a potential reversal sign. So as long as the supply levels here and the last peak— that's around 118.10 down to 117.70— as long as it will hold, every retrace here could push the euro down to 116, maybe even 114.50 or lower. If the euro does not hold the current supply area and pushes one more run, then I believe we should see that somewhere in between 119 to 121 before the bigger reversal will take place towards the mentioned zone. So, uh, that's what we have on the euro-dollar in terms of the technical analysis. And in terms of numbers, If you remember from the last weeks, we were on a very positive run, but take a look what happens
Stop Buying USDJPY: The Critical Resistance You Need To See #forex #tradingstrategy #shorts
