Looking at EURUSD from a seller's perspective
In my previous idea, I mentioned that EURUSD will reach the 1.18 level(idea attached below). As you can EURUSD crossed the 1.18 level during the volatility caused by the FOMC meeting.
In this idea, I want to look at EURUSD from a seller's perspective. I know many traders have been selling EURUSD for many weeks but they are probably disappointed because EURUSD continued its relentless uptrend.
Looking at the daily chart, I can see there is some amount of structure resistance in the 1.18 level.
The RSI also seems to indicate that a temporary high may have been made. So, there's a chance for the sellers in my opinion to get a correction to 1.14 level. I am currently holding a small sell trade from the 1.1772 level.
In this idea, I want to look at EURUSD from a seller's perspective. I know many traders have been selling EURUSD for many weeks but they are probably disappointed because EURUSD continued its relentless uptrend.
Looking at the daily chart, I can see there is some amount of structure resistance in the 1.18 level.
The RSI also seems to indicate that a temporary high may have been made. So, there's a chance for the sellers in my opinion to get a correction to 1.14 level. I am currently holding a small sell trade from the 1.1772 level.
