Forex Marketz Daily Forex News – Fully Markets Update
EUR/USD (1.0560)
- Resistance Levels: 1.0621, 1.0795, 1.0970
- Support Levels: 1.0407, 1.0059, 0.9712
- Trade Strategy: Stand Aside. Short euro on EUR/USD bounce higher
Looking at the Piercing Line candlestick, on the below daily MT 4 chart, the EUR/USD looks like it is getting ready to push a bit higher.
We need a daily close above the near term resistance at 1.0621 to challenge the next technical resistance at 1.0795. Should the EUR/USD push lower then we see support at 1.0407/08. A break below this technical level will challenge the next technical support level at 1.0059.
Simple. I am waiting on a bounce higher to open another short euro trade opportunity. I remain bearish on the euro. What I want is a more attractive trade opportunity before pulling the trigger. Till that happens I will wait patiently and continue to monitor my charts.
