Short on the Euro after daily close below 1.1070

Nov 6, 2019

Short on the Euro @ 1.10704 with an initial target of 1.1040. Shows weakness on today's daily inverted hammer close, rejecting the 1.11 level. Drilling down to the shorter time frame of 120 minute, there is additional signs of weakness on the RSI which has re-tested the 40 line. Last, we have a potential double top rejection on the downward channel.

Daily weakness


120 minute weakness

Nov 7, 2019

Trade closed: target reached

Initial target reached. Closed trade at 1.10397 +30 pips

Nov 7, 2019

Trade closed: target reached

additional note: max draw-down on this trade was 21 pips