The low may not be in for the euro dollar but we don't want to be shorting this pair so near the bottom of its range.
BULL CASE
Price may be ready to start reversing from here towards the upper part of the range. If it does the area near the 1.185 level is where we are looking to exit our trade.
BEAR CASE
The week did not end off particularly bullish, it looks like one more push down may be in the plays to retest 1.16.
However at this level we really do not want to be caught on the wrong side. So for us, we will only be looking for long plays.
BULL CASE
Price may be ready to start reversing from here towards the upper part of the range. If it does the area near the 1.185 level is where we are looking to exit our trade.
BEAR CASE
The week did not end off particularly bullish, it looks like one more push down may be in the plays to retest 1.16.
However at this level we really do not want to be caught on the wrong side. So for us, we will only be looking for long plays.