See daily chart of EURUSD below for the discussion that follows.
EURUSD is most definitely trending down, and has been doing so for a long time. It made another lower low this past week. Should we get a bounce to resistance (previous support), I will look for a short entry in terms of price action / candlesticks as per my strategy.
I haven’t mentioned it for a while now, but various markets are still very much news driven and volatile. I’m still on the cautious side with my trading. Be careful trading out there.
Remember, always have your own trading plan and never follow other people blindly. Always know where you will be proven wrong on any trade and have stops in place. Stick to your stops and never bet the farm.
On Ideas: Please don’t take this as trading advise. Please do your own due diligence before entering any trade. Also see Disclaimers.
Thanks for reading.