With todays day ranking seasonally as the worst day in April, and May approaching (May-June are seasonally horrible), together with some good selling at the upper (light blue in the chart) median line resistance, this is therefore the initiation of a short trade in the Dow. First Profit target is the monthly pivot line, second one the median line of the mid-term...
Looks like the Bulls are throwing their towel; the battle for the big figure (1.10) looks almost like it has been won by the bears. EURUSD is completing an evening doji star in the hourlies, and formed a shooting star in the dailies the day before yesterday as well as a bearish engulfing in the 4-hourlies. Due to the excellent risk-reward ratio, if this trade gets...
Euro appears to have returned into it's medium-term downward-channel. 1st target is it's Median-line pitchfork, which would equal around 250 pips. Secondary target lower median line, which would be around 500 pips.
Edit: trade stopped out, watching from the sidelines and evaluating whether this is a break of the multi-month downwards trend or just a stop-run.
