Euro/USD ready to head south

The pair formed a clear double top at the 1.25 area. Look for the continuation of the move south to the 1.22 area. If price breaks that area look for a play towards the trendline. Zoom in on price action to see the double top more clearly.

Always have a plan. Idea becomes invalid if price breaks north above the 1.255 area and holds.

Remember always make your own choices and do your own due diligence when it comes to trading.
No one can protect your money better than you.

Good luck Traders.

Comment:

Price has entered the 1.22 area. Now we watch to see if the weakness of the Euro will continue or the dollar strength picks up and vice versa. With the weak FOMC minutes released today (members weren't as hawkish as we would have wanted to see) the bounce from 1.26 was to be expected. Watch closely as a few more members speak tomorrow. Their stance could trigger a further movement south for the pair or push us back towards 1.25.

Keep calm and trade forex