The 2500 support was broken yesterday under heavy volume and EU has now found another support at 2457. Originally, the next support on the daily chart is 2442…just 15pips away from 2457.
If there is a significant retracement on EU, I will expect 2500 to act as resistance. At the spot of a tradable PA signal, a short trade will do and TP1 is 2457, TP2 is 2442. Meanwhile, EU doesn’t necessarily need to hit 2500 before one can place a short order, 2477 too is a good region to short (at the spot of a tradable pattern only).
GU – Watch out for 5634 resistance. That is if the retracement is significant. If not, 5621 can send GU back and TP1 is 5600 (a strong support), then 5582 and 5561.
AU – watch out for 9800 resistance. When we get a sell signal from here, TP1 is 9772, and TP2 is 9755.
NOTE – since EU is currently trending, it might not get to all the resistance regions highlighted above before continuing it’s down trend on any of the pairs. A short trade could be entered at the spot of any tradable short PA pattern to target the next support. And also, volatility can take it beyond our targets. Just trade your plan and plan your trade.