#EURUSD - 19 March

EURUSD made a good up move then sell down. I was looking for the up, and it did go to the level given, though my target was the one above. Still there is money to be made.

And we got a good perfect rejection off the double resistance level and it flushed lower. Price action looks bearish and point to further downside. I shall not fade that, though personally I am not that bearish, thus I would likely step aside.

Ideally, if I were a seller I would like a pullback to go short into, and that pullback would be at the PZ. If I am a buyer, I will look for a failed test of yesterday's low (yellow line) and a bullish reversal candle for a long, to target the PZ then yesterday's high.

If somehow EURUSD does tank for a trend day, 1.0817 will be the level to watch to take profits off shorts and look for long for a bounce.

Do note I changed the color of the lines - cyan is intraday levels, purple is weekly levels and orange monthly levels to indicate strength of the levels.