EUR/USD wait for retracement to sell after big move
Keep an eye on EUR/USD after last week's decision by the European central Bank to wait at least another month before reacting to rising deflation risk.
It spiked higher on Friday but later dropped down below break out area at 1.39500. Dropped below short term moving averages means that sellers took control and it is something to take notice for active buyers.
It is difficult to short here after such a big move. My plan is to wait for retracement and if sellers want to keep control of price thay don't want to give back 1.38040 then 1.38300.
Pivot support at 1.37436 right at 100MA. It could be point of reference for buyers.
It spiked higher on Friday but later dropped down below break out area at 1.39500. Dropped below short term moving averages means that sellers took control and it is something to take notice for active buyers.
It is difficult to short here after such a big move. My plan is to wait for retracement and if sellers want to keep control of price thay don't want to give back 1.38040 then 1.38300.
Pivot support at 1.37436 right at 100MA. It could be point of reference for buyers.
