EURUSD short idea

FX:EURUSD   Euro / U.S. Dollar
USD strengthening as well as the political uncertainty in Italy has been detrimental to the EURUSD pair. I expect the downtrend to continue but the RSI has been oversold for quite some time now, therefore I would expect a slight pullback to the first resistance before it continuing to the next level of support. The risk to reward ratio is much more favourable this way and I can even put a tight stop-loss just above the resistance line.

Sell-order placed at 1.18110; stop-loss at 1.1854 and take profit limit at 1.1155. Let's see how this plays out.


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