EURUSD is gearing for 200 pips drop
Actualizado
EURUSD found pullback resistance below weekly Central Pivot Range - sell the weekly rip
Newly formed massive weekly Camarilla are predicting 200 pips drop to the weekly camarilla floor. At least.
Price can even drop to 1.03 - camarilla S4 (as last week), but I doubt any further than that. 1.03 should be the ultimate bottom this week.
NOTE THAT - Price might also test (!) the weekly pivot - camarilla weekly ceiling R3 (coincide) at 1.085 (as it often does and did last week) before it drops.
My stop above weekly pivot is symbolic, the ideal stop would be above the upper line of weekly CPR (that is a concrete wall).
So far it tested only the lower line of weekly CPR, that might be enough to initiate the drop.
There is a barrier on the way - monthly pivot support S2 at 1.06496 (where price was rejected a few times).
This is no financial advise but observation.
Newly formed massive weekly Camarilla are predicting 200 pips drop to the weekly camarilla floor. At least.
Price can even drop to 1.03 - camarilla S4 (as last week), but I doubt any further than that. 1.03 should be the ultimate bottom this week.
NOTE THAT - Price might also test (!) the weekly pivot - camarilla weekly ceiling R3 (coincide) at 1.085 (as it often does and did last week) before it drops.
My stop above weekly pivot is symbolic, the ideal stop would be above the upper line of weekly CPR (that is a concrete wall).
So far it tested only the lower line of weekly CPR, that might be enough to initiate the drop.
There is a barrier on the way - monthly pivot support S2 at 1.06496 (where price was rejected a few times).
This is no financial advise but observation.
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