Photo: EURUSD: Intraday Outlook
Yesterday’s rapid decline shown by the common European currency resulted in all trends (from M15 to Daily) matching and forming a single downtrend. This is confirmed by the support/resistance line of the AO_Zotik indicator on each of the mentioned timeframes.
According to the SRP Department of Masterforex-V Academy, at this point it is rather dangerous to go long at any level. Under such circumstances, a bullish play is a risky play.
The chart below, courtesy of Masterforex-V Academy, reflects the current state of affairs in the market of EURUSD:
