nw7
Short

EUR/USD SHORT for short term

FX:EURUSD   Euro / U.S. Dollar
Two reasons I am looking for short are;

1. Double top at the resistance
2. Price failed to break above the 4 hour upper channel (a purple dotted line)

I will consider to short only if;

1. The price breaks below the neckline and the 4 hour lower channel (a purple dotted line)
2. The price pulls back to the the neckline and the 4 hour lower channel (a purple dotted line)

My target will be 1.192 area (a pink line) because this line is confluence of

1. A completion of Double top formation
2. Fib 38.2% from the wave from A to B
3. Ideally 120EMA will become flat and act as support (?)
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