Forex EUR/USD Daily Video, August 11, 2023

[Sive Morten]

Good morning,

EUR was not able to rise from the ashes and jump above 1.1040 resistance. This makes us think about bearish sentiment and consider short-entry:

 

[davedubai]

In respect to 3/3 MA on daily chart the scenario looks more bullish or I am considering wrongly ?

 

[Brett Reynolds]

I was stopped out of my original position from 1.1030 after NFP last Friday! I should have taken 50% profit BUT i allowed the trade to run and Market went to the 1.61% of the move down from 27th July at 1.1060.
I 'Re-entered' with another position yesterday on this spike up on 1 hr chart at 1.1050.
I have already taken some profit overnight and actually the £/USD followed the same path with even larger spike!
The Euro/$..will quite often do this same 'Trick'...by Hitting its' favourite 50% level..but then spiking back up to retest the 61.8% level on News and volatility.