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A good level to short EUR for a short term cycle
On daily a clear sign of supply can be seen in region of 1.38790 with confirmation supply at level of 1.37230. With current month after NFP release shorts position can be build up with a SL in region of of above 1.37230, more aggressive traders can have a SL at 1.38790. Either way more position short can be build up in and above the zone highlighted.
more important a downward cycle of EUR has been initiated.
In coming months more supply should be seen.
Also NFP numbers for coming Friday should be watched cautiously in order to get in good entry
On daily a clear sign of supply can be seen in region of 1.38790 with confirmation supply at level of 1.37230. With current month after NFP release shorts position can be build up with a SL in region of of above 1.37230, more aggressive traders can have a SL at 1.38790. Either way more position short can be build up in and above the zone highlighted.
more important a downward cycle of EUR has been initiated.
In coming months more supply should be seen.
Also NFP numbers for coming Friday should be watched cautiously in order to get in good entry
