EURUSD: Monitoring the decline

FX:EURUSD   Euro / U.S. Dollar
EURUSD             broke down sharply today, breaking the recent daily uptrend support, so we can look to take shorts from here onwards. A retrace to the red triangle's apex on chart would constitute a great entry, but it's unlikely to see much of a retrace, since we now closed below the monthly downtrend mode, a huge level. From here we could expect downside to below parity levels.

See related ideas for more information and our original short entry.


Ivan Labrie
Comment: Once we slide past 1.1093, it'll be very good confirmation of further downside.
For the time being, hold shorts and move stop to 1.11927.
Comment: I went long at 1.117, closed at 1.1236, stop was 1.11567. Flipped short once again at 1.1160, but using a wide stop.
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