EURUSD Daily Analysis 2/9/20

EU Short Idea

The M,W,D,4hr timeframes are all very bearish and we have been seeing very strong bearish momentum over the last week.

Price action gave us a perfect reversal off of the 1.11 level as anticipated. We then watched a confirmed break and retest play out.

Now we have seen price action break another major support level around 1.09850. From here we want to see a retest of the broken level as well as look for confirmations such as fib levels, bearish setups, moving average indications etc

Ideally a nice retest with plenty of confirmation would be enough to enter on. We will look to target toward our low and next major level around 1.09