Eur/Usd: Daily Market Trends Update 5/7/2018

Eur/Usd On 5/7/2018 at 8am est.. Boulder Multi Time Frame System:

1H, Downtrend, Trend stop at 1H close 1.1980, Running Period: 122x1H
4H, Downtrend, Trend stop at 4H close 1.2010, Running Period: 71 x 4H
Daily, Downtrend, Trend stop at day close 1.2403, Running Period: 21 days

( Note: Those stops will change with hour close and price action)

Trading Strategy:

Currently 1H, 4H and daily downtrend. If you trade 1H trend, preference is to short as long as downtrend stop 1.1980 held at 1H close. Using time stop. 1H downtrend is overextended with 122 running hours for this cycle. Using positioning, EA had 12 short positions triggered for this cycle comparing to normal 10 positions or less. Therefore very high possibility H1 trend may reverse to uptrend very soon due to extreme.

Support: S1 1.1935, S2 1.1912, S3 1.1873
Resistance: R1: 1.1982, R2 1.2006 , R3 1.2044