Watch out for 1.39 in EURUSD

 

Both trades EURUSD & USDJPY are doing excellent… EURUSD is down from 1.4170 to 1.3933 that is easy 230 pips in just 2 days. Similarly USDJPY is above 100pips from 89.30 to 90.55

Now dollar had a very good show but watch out for two important levels..

1.39 in EURUSD & 91.90 in USDJPY

They could possibly reverse the current trend and EURUSD can go all the way back to 1.4450 and USDJPY can retrace below 89 to test 88-86 levels.

Here is the story with EURUSD, green line is where I would convert my shorts into longs.

I will update once the pattern is confirmed.