EURUSD Struggling at Major Resistance Confluence
EURUSD appears to be failing below a critical resistance zone which stretches between 1.1384 - 1.1442. 1.1384 is yesterday's high and coincides with the long term descending trendline connecting the July, September and December swing highs. 1.442 was the highest daily close in the Head and Shoulders pattern from 3 weeks ago.
We have entered short at 1.1302 with a hundred pip stop just above yesterday's high/major trendline resistance. We are once again targeting the multi-year low's and continuation (though we've been frequently disappointed of late!).
We have entered short at 1.1302 with a hundred pip stop just above yesterday's high/major trendline resistance. We are once again targeting the multi-year low's and continuation (though we've been frequently disappointed of late!).
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