EURUSD COULD see a small bounce before continuing lower.
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It looks like we're at another crossroads today with the pair. It MAY be bouncing off the bottom of the retracement, headed upward until resistance.
Keep an eye on the price, if it goes over the pivot around 1.20750. You may wish to buy out your sell order, then re-short after the bounce. You could even buy after around 1.20800 for a short trip up toward 1.21000, It's only 20 pips, so if that isn't meaningful, just buy after it bounces off the resistance. Should save you a little profit.
But this is IF it goes back over the pivot. Still short on the current trade. Let me know what you think.
Keep an eye on the price, if it goes over the pivot around 1.20750. You may wish to buy out your sell order, then re-short after the bounce. You could even buy after around 1.20800 for a short trip up toward 1.21000, It's only 20 pips, so if that isn't meaningful, just buy after it bounces off the resistance. Should save you a little profit.
But this is IF it goes back over the pivot. Still short on the current trade. Let me know what you think.
Nota
The 5 minute candles look even MORE like a bounce, IF the pivot cracks. The last 2+ hours have followed precisely along the bounce curve.Nota
BOING! Going on a short-term long bid.Entry: 1.20800
Exit: 1.21250 (may adjust as curve plays out)
Stop-loss: 1.20700
Penafian
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