charts247
Short

More lower prices expected in EURUSD

FX:EURUSD   Euro / U.S. Dollar
99 0 3
Happy New Year Traders, we wish you all the best for this year 2016.
Eurusd             as we all can see is still in a large downtrend according to the weekly, daily and even the 4hrs chart. We saw what happened on 3rd December when draghi spoke and the EURO             jumped from 1.0516 to 1.0980 areas, but after that event every attempt to follow through have failed the key figure 1.0981.
Last week we have seen some selling coming into the pair though the market was thin due to holiday season, price still managed to print some significant bearish move. Right now, the next level we are watching is the 1.0808 significant points which is also the low of what looks like a right shoulder in this price formation.
Below 1.0808 we are expecting price to trade sharply to the downside to continue to the overall trend.
Right now we have no case to buy the EURUSD             below 1.1042, only if price manage to trade above this level is when we are willing to look for another buying opportunity in the pair.
GLT             and trade with care.
Watch our weekly analysis video on eurusd             here: https://www.youtube.com/watch?v=SDMLlnE154w
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Trade active: We have seen on a lower timeframe a rejection of the breakout zone. 1.0899
Here we go short on the pair.
GLT
Comment: EURUSD Giving up the gains, we stick firmly with our shorts. As I analyse in the video, every buying in this pair below the purple significant point is a selling opportunity.
Comment: The downside is open in this pair. 115 Pips so far on this trade and we have more potential targets below the current level. GLT
Comment: Stop is brought to the structure we have locked in some of our profit on the pair. stop 1.0808
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