Direct from the desk of Dane Williams.
Hey team,
I'm probably the biggest proponent of it's support until it isn't, but with this EUR/USD daily zone already having been tested twice, it does have a sense of inevitability about it.
Take a look at the price action on the Fiber daily below:
EUR/USD Daily:
With no daily candle this week managing to break new highs, we've just seen price slowly grinding back down to support.
If anyone is still clutching to EUR/USD longs, I wouldn't be feeling too good about them now and it might be time to at least move stops to break even.
Here's the Fiber hourly chart with the intraday zone that we were last longing off.
EUR/USD Hourly:
There's been plenty of money in this zone, but I'm just feeling it looks a bit sick at the moment.
Either way, it looks like we're going to find out with another retest before the end of the week.
Best of probabilities to you,
Dane.
FOREX BROKR | LeoFinance Blog
Daily market analysis.