...the Euro is. And in truth the value of the Euro isn't really losing value (yet), but I think the effects from Brexit have already been felt and now the reality that it isn't so bad is beginning to set in. Time for some pull back.
Our most recent high is a double top from the height of the Brexit news at the beginning of July and it just so happens to have a nice push pin formation.
Short trade in chart represents 4 hour chart, but there could be a much more long term move to pre-Brexit levels in future months...???
Trade active
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SHORT Entry 0.8596 TP 0.8455 (0618 Fibs) SL -20 pips will move to break even once we are +20 pips profit
Trade closed: stop reached
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Well had no clue about the news that came out this morning. Evidently the EUR went mad bully and shot up. Lesson learned... Euro is a bad a$$ right now. Go LONG.