SHORT on 30 Mins

4 Mar 2019

EUR/USD’s decline today suggests that recovery from 1.1235 has completed at 1.1515 already. Intraday bias is cautiously back on the downside for 1.1335 support first. Decisive break there will complete a head and shoulder term pattern (ls: 1.1400, h: 1.1420, rs: 1.1410). That should confirm completion of rebound from 1.1235. Further decline should be seen to 78.6% retracement of 1.1235 to 1.1515 at 1.1300 next. On the upside, though, break of 1.1375 will turn focus back to 1.1420 resistance instead.

The target is 1.1375.
Turning point: 1.1300.
Under 1.1375, bearish , target price is set at 1.1335, then 1.1300.
Above 1.1375, bullish , target price is 1.1410,then 1.1420.

Prior Strategy:

5 Mar 2019

Not

Target Reached.