Sive Morten
Special Consultant to the FPA
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EUR/USD Daily Update, Thu 02, September
Hello everybody,
market has changed daily trend to bullish and reached strong area of resistance that includes - daily Fib resistance, monthly pivot point and weekly pivot resistance 1, so I think that we should expect short term pull back.
Hourly trend is bearish right now.
If you're bearish - wait for some retracement to the upside, then check for trend. If it will be bearish still - you can make a short-term scalp trade, with target around 1.2713-1.2735 area.
If you are bullish - wait, until this pull back to the down side will end at some of the Fib. supports. Then look for hourly trend - when it will shift to bullish at some fib support, you can enter on the long side at some small retracement. The target of this move - at least previous highs around 1.2860 area
Hello everybody,
market has changed daily trend to bullish and reached strong area of resistance that includes - daily Fib resistance, monthly pivot point and weekly pivot resistance 1, so I think that we should expect short term pull back.
Hourly trend is bearish right now.
If you're bearish - wait for some retracement to the upside, then check for trend. If it will be bearish still - you can make a short-term scalp trade, with target around 1.2713-1.2735 area.
If you are bullish - wait, until this pull back to the down side will end at some of the Fib. supports. Then look for hourly trend - when it will shift to bullish at some fib support, you can enter on the long side at some small retracement. The target of this move - at least previous highs around 1.2860 area