this is a brief analysis of the EUR/USD pair that, as mentioned in the market review provided on Monday, has respected (and confirmed so far as resistance) the area starting at 1.3668.
The Euro is currently trading the 1.3552 next 4-hour setup short in the sequence and, so long as it stays below the failure level 1.3561 (stop-loss for current short) it has the potential to move into the 1.3424 area.
The chart below shows the current view on the 4-hour chart:
Above the 1.3561 level, the Euro has the potential to move again back to the 1.3668 area of resistance, before starting moving lower again.
Hint: 1.3561 is a profit taking for shor-term trades short started at 1.3668
Notice that price projections in my method are not from/to random levels and do not follow Elliot Wave, DiNapoli levels or other methods, but rather a proprietary method based on modeling effects of Program and Algorithmic Trading on price.
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