EURUSD - shorting idea

Nov 5, 2016

After a rally, EURUSD is slowly reaching an upper band defined by several flat SSBs given by Ichimoku, they act as a resistance zone. Moreover it is blocked by the upper prong of the fork where the price evolved since September. Depending upon the US elections, we may see a rejection of this area with a price returning to the middle of the last swing we observed (25 Sept -> now). Given the technical levels extracted by extending the flat segments of the daily SSB and the median of the fork, 1.10 looks like a plausible target.

Invalidation of the plan in case of non-resistive 1.116-1.120 area.