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Yearlyhighs

EURAUD - 100pip Short?EURAUD has been moving in an interesting manner of late. If you noticed on the 4 hour, a consolidation around 1.63500 to 1.6300 - with a spike up to 1.6450 and falling back into the 1.6300 - 1.6350 range thus creating a head and shoulders. Daily - We have come into Yearly highs, with a Spike up and a bearish close on the day, forming a shooting star/bearish engulfing, with the next day retracing, however we saw another spike into the highs. Market has failed to break past 1.6350 resistance and another shoting star formed. We ar looking for a break below 1.6300 to confirm the head and shouders formation.
Short
by myronemoyo
Selling Yearly Triple-Top For September USD Index Futures (DX)Wednesday’s FED Announcements have produced bullish action due to the statements issued. For the intermediate-term, the USD Index is likely to grind higher in anticipation of a hawkish FOMC Minutes release and upcoming September FED meeting. The last three sessions have been big for September USD Index futures. Price has broken above topside resistance on the daily chart. For now, this market appears poised to test the yearly Triple-Top present in the 95.220-95.440 range. Here is the short trade: 1)Entry: Sell 95.220 2) Stop Loss: 95.505 3)Profit Target: 94.935 4)Risk Vs Reward Ratio: 1/1
DShort
by FXLeaders