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Expect intraday sellers to dorminate

Expect intraday sellers to dorminate | 08 Marzo 2018

08 Marzo 2018, EUR/USD

Expect intraday sellers to dorminate

Wave Analysis:

During the previous trading day, euro opened at 1.2407, went as high as 1.2445 and as low as 1.2384 but ended up closing at 1.2411, just a few pips above it's daily opening price. The previous day's candle was a perfect bearish pin bar, which means, intraday traders should be looking for short positions with there target at 1.2240. Long term traders went long at 1.224 and are still holding, if you're not long already, you could wait for a pullback towards 1.2240, then pick a long term long position towards 1.3100. This pair should be traded alongside EURHKD, EURAUD and NZDUSD. These pairs will move in the same direction today.

Trade Recommendations:

Rebuy euro around 1.2240 towards 1.3100

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Bob Stan
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