EUR/USD: Pullback to 1.1480-1.1510 Area before further Downside?
EUR/USD went to 1.1300 area last week and rebounded during the last two days of the week.
The pair is currently trading at 1.1436.
It seems that the price has momentum behind it to visit the 1.1480-1.1510 area. The 1.1510 area is also a major support. Hence, it is likely that this area could become a strong resistance near-term.
Based on how price behaves tomorrow, my Trading plan would be to short around 1.1480-1.1510 area. Stops would be placed above 1.1580 if I decide to take the trades.
The pair is currently trading at 1.1436.
It seems that the price has momentum behind it to visit the 1.1480-1.1510 area. The 1.1510 area is also a major support. Hence, it is likely that this area could become a strong resistance near-term.
Based on how price behaves tomorrow, my Trading plan would be to short around 1.1480-1.1510 area. Stops would be placed above 1.1580 if I decide to take the trades.