The EURUSD Short
Euro was gaining bullish momentum after it touched the post-brexit 1.091+ support level. However the pair failed to reach and consolidate above 1.12+ and downtrend resumption may be at hand now. The H1 ascending channel has been yet broken and the expected targets lay between 1.104 and 1.101. Our ultimate target is at 1.0915. We are now shorting from 1.10936 and 1.10536. As soon as the first target hits we are going to book half of the profit and let the remaining trade ride down to 1.0915 with the breakeven sl. Eur has been quite choppy against all counterparts so turbulence is on our way. M5 and M15 PA give us more accurate entry points as well as support and demand zones. We also keep an eye on the 200 DMA which is a great trend indicator and now it has a strong resistance role. Amid concerns over Brexit the market is looking for a safe haven asset and the greenback is a perfect candidate.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.