Get started
glennmercer

EURUSD: Many Reasons to Short

Short
Euro / U.S. Dollar (FX:EURUSD)  
glennmercer  
FX:EURUSD   Euro / U.S. Dollar
EURUSD 1h glennmercer gmercerfx Pivot Points Daily Pivots pivot Gartley Trend Lines
10
0
eurusd 1h glennmercer gmercerfx pivotpoints dailypivots pivot gartleypattern trendline
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!

Related Ideas

glennmercer
AUDUSD Short: Ready for Correction?
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.