I'm sure many of you have heard about fears of trading on Sundays. Some call it "Trap day" which is a term used to describe a consolidating market. This happens quite frequently on the weekends and we usually will not see a major move until later on in the week.
Since it is a Sunday in the market, I will just be setting up my charts.
In the chart you can see...
Here we have a daily chart setup of the Euro against the US Dollar. The pair is trending in a downtrend so we will be looking for shorts. Confirmation of the downtrend is price currently trending below the 200MA. You can see rejection off of the downtrend-line. At that rejection point you can also see a bearish Evening Star pattern formation followed by a pullback...
