EURUSD: Many Reasons to Short

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             has reached an excellent level to look for shorting opportunities. A daily resistance trendline has rejected price on 8/11 and sent the pair downward over some important moving averages . These averages are now being retested and are confluent with the new daily pivot . Below price, there is a missed daily pivot that may help drag the pair downward. The completion of a larger TF Gartley provides a nice target. Selling after the break of the bullish trendline is a good idea, especially in this case, since there are some high volatility news events coming up for the USD.

Bearish Confluence:
  • D1 bearish TL resistance
  • 100 Day EMA resistance
  • 500 4H EMA resistance
  • 14 4H SMA resistance
  • Daily pivot resistance
  • Missed daily pivot below price

Happy Trading!
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