EURUSD has turned bearish and fell for 4 consecutive days since it got resisted at the top of a 17-month falling channel.
As we approach the end of the trading week, we need to exercise cautious particularly in the price.
Many might want to chase after the bear after multiple news lows were created.
I'm not sure if the price will just continue to fall from the current price but I stick to my trading principal and go for the best price to trade.
So in this case, the best price for the first attempt to sell EURUSD will be somewhere at the top of the falling channel as plotted in the chart, between the price of 1.107 and 1.109.
As we approach the end of the trading week, we need to exercise cautious particularly in the price.
Many might want to chase after the bear after multiple news lows were created.
I'm not sure if the price will just continue to fall from the current price but I stick to my trading principal and go for the best price to trade.
So in this case, the best price for the first attempt to sell EURUSD will be somewhere at the top of the falling channel as plotted in the chart, between the price of 1.107 and 1.109.
