The EUR/USD is testing the kijun sen resistance on the 4H chart. This in the context of a well defined down-trend, and resistance just above from the kumo and a descending trend-line. The aggressive approach would be to short at market, the more conservative traders could wait for the trend-line+kumo cloud area to go short. We think either alternative is reasonable, in fact, we prefer to take both alternatives by going short for 1/2 of our standard size at the kijun and then adding the second 1/2 if indeed price hits kumo+trend-line resistance.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.