EURUSD - Weekly double top confirmed - Parity within reach
Updated
A mega NFP print Friday saw the Euro decline 186 pips / 1.71%, confirming the double top pattern that had been brewing since April. The close below 1.0828 should (finally!), open the path to the multi-year low set back in March (1.0462). If bears manage to crack this level, parity should not be too far off... this was a very large consolidation pattern indeed - over 1200 pips - the 50% extension is .9836. Don't want to get too carried away, but the 100% extension is just above the 92 cent mark (.9210). Holding short from 1.0870 and looking to sell strength.
Trade active
Added to short at 1.0767Trade active
Added more at 1.0744 - stop at 1.0794 for additions, 1.0828 for position from 1.0870.Trade active
Added to short at 1.0719 on break below & retest of 78.6 - trailed all stops to 1.0767 (above yesterday's high)Trade closed manually
Out of all additions for small loss (10% of trade risk) - still holding position from 1.0870, 1.0794 stop. Above there we could be looking at inverse H&S.Trade closed manually
Closed from 870 @ 770. May get back in. Flat for now.
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