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EURUSD looking to short in the confluence above

Discussion in 'Technical Analysis' started by FXStreet_Team, Nov 10, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    The EURUSD dropped like a stone after much better than expected NFP report hitting 1.0710 a historical support which holds the price from proceeding lower. The trend is clear and we also need to watch a possible position where we could enter another sell. H3, WPP, EMA 89 and the top of the equidistant channel mark the zone where we could expect another rejection. The zone is 1.0820-35. A rejection from the zone should target 1.0710 initially. 1.0706 is double bottom so a strong break of 1.0705

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