Euro is in a Demand Zone

Buy in blue. High probability rebound into .382 retracement at the minimum.

Ideal entry is 1.0615.

Trade stängt: Stopp nått:

A stop and reverse has been initiated. Over the years I've created certain rules that reverse positions once stop is breached. These types of pending orders are always based on the larger time frame close of the original analysis and met with a qualified signal. In this case, the rule applies.

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Kommentera:

I don't usually take these 1hr charts too seriously when it comes to breakouts, but there is nothing attractive about the close below. I am concerned that the Euro continues sliding lower even with the relatively weak dollar.

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Target 1 (first arrow)

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Target 2 (second arrow)

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Target 3 (Third arrow)

Will update thoughts on election. The current scenario with regard to French elections is extremely reminiscent of two major events in the last year...