hourly resistance at Moving average 50 at hourly EURUSD Short

Euro Fx/U.S. DollarFXCM

Description

⋅ Oct 30, 2017 9:33 AM

with recent comment from ECB with dovish tone and resistance at hourly 50 MA, it is a good time to short OANDA:EURUSD
with SL @ 50 pip and target minimum of 100 pip.
it maybe a begining of a long term trend reversal, with COT data show overbought level of speculator holding EUR, at all time high since april 2017

Trend Analysis

Comments

snahsiub

⋅ Oct 30, 2017 9:41 AM

I can see the overall sentiment is very bearish. Let's see where we can go. It needs to grow a bit to 1.165/1.166 and then open short.