matt_forex
Short

Resistance at Fib Ext

FX:EURUSD   Euro Fx/U.S. Dollar
410 1 1
The daily chart shows the EURUSD             pair in an uptrend. So this trade is counter trend which can be risky.

Price is continuing to make low lows, and lower highs.

The daily fib extension is providing strong resistance.

Looking at recent EUR options volume , shows more PUT volume than CALLs. (June 14 contracts) signaling traders are anticipating a drop in price in the near term.

Set the stop above 1.38200.

Targets are at 1.37400 then 1.3700 area.
zzfx
2 years ago
shit happens, nice set up
Reply
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