EURO:
A similar expectation after any 3-day cycle break is for the market to rotate back towards the level and test it to verify the breakout. Traders can exit shorts around today's lows and use the trailing resistance as another entry. (yesterday's report)
EURO is well support compared to the GBP (report below). The Euro remains above the weekly 50% level, and yesterdays break of the trailing resistance line has sent the Euro back towards the previous break of the 3-day lows.
It's probably 1 day too early to be shorting again, because resistance needs to be verifed, if that's the case on Wednesday then on Thursday traders can use the trailing support line as a confirming breakout trade.
No Set-ups for Wednesday....
GBP/USD report below..
Posts
