EURUSD(1 hour)

Lovelly drop today  for those who were short , congrats to those who were.

For today look for a retracement before going short ,back up to the sloping downtrend line B. also look at 1.3950 as a possible retracement point , however I would want to get in higher as your stops are going to have be above the 1.4050 area. We need to get above there to think about long positions right now .

So basically look to short down from the 1.40 – 1.4020 area ,this was previous support so lets see if it turns into resistance before the weekend . Look for candle stick alerts and an absolute failure to break through the 1.40 zone.

Have a good weekend all