EUR/USD Short until October of 2019
EURUSD has been on a strong downtrend since roughly March of 2018. I believe we will still see about a 1.10% decline to the 1.1200 range in the months ahead. The next S1 Pivot Point is located in the 1.09 range. I don't think we will see it fall this far in 2019. I'm shorting EURUSD based on a long lasting trend. I've put exclamation marks next to the MACD and RSI. I want to point out, that currencies can remain in downtrends for a while, even when they are oversold. I would set your first Profit target at 1.12750, with a stop loss slightly above 1.14 range, say 1.1425, if you don't wish to have this trade open by the end of the year. Adjust your Take Profit and Stop Loss according throughout the duration of the trade. If you will be carrying this trade into 2020, consider a wider stop loss and take profit. Ensure with any long term trades such as this, that you are adequately funded or using very small lot sizes.
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