informedtrades
Short

Too Late to Short EURUSD?

FX:EURUSD   Euro / U.S. Dollar
Unfortunately it might be, and I'm certainly disappointed I missed a trade I should have put on yesterday. But nonetheless I've put my order on to short at 3610, with my stop at 3650 and my target profit at 3485. We're in a clear downtrend, price has pulled back to the 200 EMA (which is also the 61.8% Fibonacci retracement ) and we are seeing shooting star candlesticks at this resistance level . All signs favoring shorting. Against other pairs, EUR seems like it's coiling and ready to move.

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