VasilyPonomarev

EURUSD: Update and Potential Short

Short
FX:EURUSD   Euro / U.S. Dollar

this is the update for my previous post on EURUSD .

The price has reached the key level of resistance and yesterday we saw a nice rejection from 1.109 level.

Currently, the market is trading within the horizontal trading range 1.106 - 1.109.
For confirmation, wait and sell only after a bearish breakout of the range.
This breakout will also signify a bearish violation of a bearish flag pattern
and, most likely, will cause a strong selling movement.

Our target levels will be
1.104
1.1

*if the market goes higher and closes above the range our setup will be invalid

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