EUR/USD right now is trading @ 1.3570; around 15 pips higher than yesterday minimum;
yesterday we had a perfect bearish day: high 1.3715; low 1.3526; at 1.3580 we had a ritracement of 61.8% @ 1.3655 to close than @ 1.3553.
In my opinion the rate is still overvalued, there is a lot of long position that is starting getting scared of it; today there will be lots of Data; If the Data about the unemployment claim will be not worse than expected I see the possibility of some long cover... that mean the rate may go down violently.
so here are some resistanse ans supports:R1 1.367; R2 1.3787; S1 1.3481; S2 1.3409; S3 1.322.
here is my trading plan of the day:
I will sell 2 unit of EUR/USD right now @ 1.3565 stop loss @ 1.3646 and I would close the position anyway if the US data will be worse than expected; I will bay back the first lot @ 1.3481 and the second @ 1.3409 at the 1st and 2nd support to be clear;
have a good trading
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