Last week, we analyzed EURUSD and said that we were looking to short euro at 1.1321, as we see there is potential AB=CD pattern formed. It did go up to 1.1321 but overshoot up to 1.1364 but later quickly go down below 1.1350.
We entered two trades around 1.1321 area, and the first trade hit the stop loss at about 1.1340. We re-entered the trade and manged to make some profit today.
We still look for short the euro at this area (1.1321 to 1.1350), as long as euro didn’t exceed the previous peak point at 1.1364. Besides, 1.1350 is the reverse 1.618 of fib retracement.
Please trade with stop loss!