The EUR/USD Forecast for today is still bearish. The seasonals are down, and we are in the middle of the cycle down. The pair has already dropped 140 pips out of a potential 220 pips, so I would like to see some pullback before entering.
I am looking for a retracement to the 1.3560 level at least and am only looking to short it if the VSA and technicals look good.
There’s a good chance it won’t make it back up that high, but if it does I think that’s the safe area. I am looking for the move to take place between 5:30 to 7:30 pm (GMT+7).
Trade Review – On Monday I said
“I am looking to short this pair. However I would like to see it retrace to the 1.3660 level and I am looking for this to happen around 14:30 to 16:30 (GMT+7) and between 21:00 to 24:00 (GMT+7)”
As you can see by the chart below, the move came 30 Minutes before I predicted, but I got the price and direction spot on. I missed the move, but I hope that some of you got it.