Here below please find attached the video-analysis of the Euro FX currency futures for today February 4th:
The Euro failed the 1.3484 level on the downside and confirmed its correction lower into the 1.3460-70 area as anticipated Friday last week. The Euro could see a small rally today or tomorrow and this would be an entry short for a very short-term into the 1.3460 support where we could see participation on the long side from Program Trading and professionals.
We could see a retracement once price gets into the 1.3500 area with the 4-hour 20-bar moving average acting as a resistance.
Please keep in mind that selling the Euro at this stage would only be a very short-term trade. Shorts are dangerous and a low probability trade at the moment. The Euro has still targets above (please review the video on the intermediate trading plan for the Euro going forward).
Yesterday I sent my Mid-Week updates to subscribers containing, among other information, an overall view on the Euro. See below how to subscribe for free.
If you want to have access to trading plans, watch weekly video reviews as I develop or record them, or get information on setups (before they happen) for the Euro-Dollar cross, the S&P500 index and some high volume stocks, please subscribe my newsletter. It’s free and you get additional content like market commentaries, setups, e-books, articles on HFT and program trading, learning material on my method and video-analysis that I don’t make available on my blog.
Thank you for subscribing should you decide to do so. Lots of other people are doing the same.
If you intend using this information for your trading please do your own due diligence, find the advice of a trading professional and trade at your own responsibility. The information provided is for educational purpose only. Please read the Disclaimer and accept all the risks. Thank you.
Have a good day