EUR/USD SELL - 27/10/2017
After significant fundamental factors the ECB meeting, the decision on the interest rate), EUR/USD demonstrated a strong fall of the price. The downward movement was sharp and on very large volume. As a result, the price broke through the lower boundary of the consolidation and continued its falling. Also it is necessary to allocate 2 new levels of resistance. The first 1.1692 - 1.1705, the second 1.1740 - 1.1760. In both levels, large volume is concentrated. Considering all the above factors, now it is worth considering exceptionally short positions for this currency pair. Sales can be opened after a smooth correction of the price up on small volume. A stop loss should be placed a little above the resistance level 1.1692 - 1.1705. A potential of the fall
is 150-160 points. If the price breaks through this resistance level, our scenario still remains relevant, but it is applicable to the second resistance.
The bottom line: short positions are in priority.
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