FxWirePro

We prefer to go Short in EUR/USD short

Short
FX:EURUSD   Euro / U.S. Dollar
7
Morgan Stanley has entered EUR/USD short via filling a limit order at 1.243 (Short-Term)

Short term trend: Bearish
Ichimoku analysis (4 Hour chart):
Tenkan-Sen level: 1.2369
Kijun-Sen level: 1.2371
Ichimoku cloud top: 1.2374
Ichimoku cloud bottom: 1.2415

EUR/USD has retreated after making a high of 1.2446 and short term trend is bearish as long as resistance 1.2536 holds.
The pair’s minor support is around 1.2350 is around and any break of will target 1.2250/1.2200. The break of short term resistance 1.2470 will take the pair to 1.2536/1.2610.
Long term trend reversal only above 1.2630.

Recommendation: Sell EUR/USD around 1.2430, SL 1.2536, Target 1.2200.