SELL EURUSD brewing - Big number and WR1 Resistance
I have a SELL STOP placed at 1.1000 on EURUSD with a STOP above at 1.1040 (40 pips) and a TAKE PROFIT at 1.0800 (200 pips) though will be adjusted if the trade fires depending on momentum.
There's a nice trend line just where we are now at market ( 1.0969) so price may not get to the SELL STOP so I'll be looking to SHORT if the BEARS enter the market early.
I'm still favouring a move to WR1 Resistance which will be a powerful target for EUR/USD BULLS.1.0950 will trigger a manual SHORT trade if the smaller time frames support.
There's a nice trend line just where we are now at market ( 1.0969) so price may not get to the SELL STOP so I'll be looking to SHORT if the BEARS enter the market early.
I'm still favouring a move to WR1 Resistance which will be a powerful target for EUR/USD BULLS.1.0950 will trigger a manual SHORT trade if the smaller time frames support.
Trade active:
BEARS jumped in without waiting for WR1 so I jumped in with a manual SHORT at 1.0980. The EUR isn't particularly weak against some currencies but this is a reflection of BULLISH sentiment with the USD. GBPUSD has fallen heavily and USDCAD and USDCHF have moved north mirroring a rise in the Dollar Index.