EURUSD.H4 20161012.png
EURUSD H4, Bottom of Falling Trend Channel and FR161.8%, Within Support Zone

Technical Analysis:
The price was supported and beginning to rebound after it has reached the bottom of a falling trend channel within a support zone, together with FR161.8%, a sign of exhaustion that will cause the price to rebound strongly.

Market Sentiment:
In comparison to USDJPY and USDCHF, both are facing exhaustion from recent appreciation, one has begun to fall with a double top and the other one was seen resisted at the top of its rising trend channel. Therefore, it is very likely that price will reverse at this point, not exactly a reversal, but at least a major retracement.

Trading Plan:
Buy with Full 3% risk with Stop Loss set 30 pips below the bottom of the falling trend channel.

If the price failed to rebound now and break lower than previous swing low, closed 1/2 position.

The first Take Profit level will be 1.1137, FR61.8% of the current swing high to swing low.

Modification:
[12/10/16 16:45]
Exited 1/2 position with a loss as the price has broken below the bottom of the falling trend channel.EURUSD.M15 20161012 mod1.png

[19:53] Exited the remaining 1/2 position as the price did not recover.

Result: 1.92% loss