Euro / U.S. Dollar

Short

EURUSD Update #1: Trade Active

By Chris4XTrading

Updated

Trade active.

TP1: 1.16500
TP2: 1.16200
SL: 1.17900
R/R: 3.0

Supporting factors:

S&P and DJIA up 0.3% and 0.6% respectively
US CPI to rise 0.2%
Weaker EUR economy, lead by weak German production
Head and shoulders pattern

Note

First Fibo re-tracement reached - second opportunity to enter if you missed the first entry point.

snapshot

Note

Looks like the Euro isn't going down without a fight. Multiple retests expected during the short.

snapshot

Trade closed: target reached

Also on:

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Possible head and shoulders forming

by Chris4XTrading

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