Simphiwe_FX
Short

EURUSD: SHORT ENTRY IN THE FIBZONE

FX:EURUSD   Euro Fx/U.S. Dollar
37 0 2
We've seen price breakdown to the downside due to Brexit; Buyers did slightly managed to gain momentum by pushing the price to it's previous support now turned resistance, however failed to maintain that rally. This market was shorted based on the below factors:
* The market was in the fibzone - between the 50% - 61.8% levels.
* There was a nice bearish pennant that formed on the H4 timeframe which was broken to the downside.
* There was a strong Bearish engulfing candle on both the H4 and daily timeframes.

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