Euro:Mid-term Bearish signal
Here is a monthly chart, price under presure since 2008 til now.
1.1200 is the 50% retracement since 2000, probably a bearish candle formation if price fail to climb up 1.1200 again when apr ends,which is a mid-term bearish signal to attention.
On hourly chart euro retested 1.1200 then fell down tonight.Though 98 is quite high for dxy, we cannot exclude the possibility that the dollar is still with strong momentum to move up,given the robust data and stable economic environment in states,much better than other developed economies.(Dovish stand of Canada,Poor CPI of Australia, uncertainty of Brexit exhaust both euro and sterling)
Short high can be a strategy if you agree with the idea or enjoy trend trade with large time frame,around 800-1000 pips before price moving into demand zone or strong support near 1.0780 level.
One more thing, as it is the monthly chart, you'd better find your entry from smaller time frame.
1.1200 is the 50% retracement since 2000, probably a bearish candle formation if price fail to climb up 1.1200 again when apr ends,which is a mid-term bearish signal to attention.
On hourly chart euro retested 1.1200 then fell down tonight.Though 98 is quite high for dxy, we cannot exclude the possibility that the dollar is still with strong momentum to move up,given the robust data and stable economic environment in states,much better than other developed economies.(Dovish stand of Canada,Poor CPI of Australia, uncertainty of Brexit exhaust both euro and sterling)
Short high can be a strategy if you agree with the idea or enjoy trend trade with large time frame,around 800-1000 pips before price moving into demand zone or strong support near 1.0780 level.
One more thing, as it is the monthly chart, you'd better find your entry from smaller time frame.
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