EURUSD - Intraday - We look to Sell at 1.2279 (stop at 1.2302)
As prices continue in a bearish wedge formation, we look to sell into gains for a swing back lower.
We look for a temporary move higher.
The trend of higher highs is located at 1.2850.
Preferred trade is to sell into rallies.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Our profit targets will be 1.2215 and 1.2195
Resistance: 1.2240 / 1.2260 / 1.2280
Support: 1.2200 / 1.2180 / 1.2160
As prices continue in a bearish wedge formation, we look to sell into gains for a swing back lower.
We look for a temporary move higher.
The trend of higher highs is located at 1.2850.
Preferred trade is to sell into rallies.
Bearish divergence can be seen on the daily chart (the chart makes a higher high while the oscillator makes a lower high), often a signal of exhausted bullish momentum, or at least a correction lower.
Our profit targets will be 1.2215 and 1.2195
Resistance: 1.2240 / 1.2260 / 1.2280
Support: 1.2200 / 1.2180 / 1.2160
