Selling a weak EUR/USDIn its prominent down trend, price continues to have pronounced consecutive cycles below the 20 ema pushing EUR/USD lower. Today’s bearish reversal bar bumped just shy of a past level, now acting as resistance, at 1.2500, and closes below 20 ema and 0.618 Fibonacci level. If a short trade does not trigger a re-entry can taken at the test of 50 ema and/or 1.2500.
Entry – below today’s reversal bar
Stop – above today’s reversal bar
Target – once triggered, will let the trade run for price to rendezvous at 1.2000 where it’s been before
Reverse set up of the same nature on USD/CHF.
