We’ve had a little dip under yesterday’s low by a couple of pips to 1.1884 but we’re still holding above the Jun 2010 low and the low on the 2nd at 1.1869.
EUR/USD M30 chart 06 01 2015
Given the very sharp move down this level could be very important level for the pair. People often talk about catching the falling knife etc but there is absolutely nothing wrong with countering a move if you have a good enough reason to do so. I’ve been watching this level to see how it performs on another test and I’m tempted to try a long with a tight stop, maybe under 1.1850 if it holds.
I’m going to add that it’s a apt time to remind you of Adam’s post “On bottoms, we’re asking the wrong question?”
