We are going to short EURUSD based on:
1) EMA 200 that works like a resistance
2) The price is in a critical area that used to be
support and then resistance
3) Price action on lower timeframe (indecision candlesticks)
4)Correlation - DXY chart is gaining power, that mean USD is getting stronger,
as a result EURUSD is going down ! ! !
ENTRY: 1.1750
STOP LOSS: 1.1800 (50 pips)
TP1: 1.1700 (50 pips 1 : 1)
TP2: 1.1675 (75 pips 1 : 1,5)
TP3: 1.1650 (100 pips 1 : 2)
*If the market breaks the area and go to test the higher high ( next critical area ) watch it for a re-entry.
** Watch for todays PMI's & tomorrow NFP
HAPPY PROFITS ! ! !
1) EMA 200 that works like a resistance
2) The price is in a critical area that used to be
support and then resistance
3) Price action on lower timeframe (indecision candlesticks)
4)Correlation - DXY chart is gaining power, that mean USD is getting stronger,
as a result EURUSD is going down ! ! !
ENTRY: 1.1750
STOP LOSS: 1.1800 (50 pips)
TP1: 1.1700 (50 pips 1 : 1)
TP2: 1.1675 (75 pips 1 : 1,5)
TP3: 1.1650 (100 pips 1 : 2)
*If the market breaks the area and go to test the higher high ( next critical area ) watch it for a re-entry.
** Watch for todays PMI's & tomorrow NFP
HAPPY PROFITS ! ! !