The EURUSD bulls were disappointed yet another time with the pair finding resistance around 1.1820 mark yesterday. We need to respect the story here, which is probably hinting towards a push lower towards 1.1500 levels to complete a complex corrective structure. With the medium term story intact towards 1.2000/2100 levels, we still remain cautiously neutral and would allow prices to drop towards 1.1500 levels before thinking to go long again. Aggressive trading strategy could be to go short until prices remain fairly below 1.1820/30 mark. A conservative approach could be neutral for now.
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Disclaimer:
This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.