JeffKip
Short

EURUSD Short - 1.14 Bids and Technical Resistance at W1 50 SMA.

FX:EURUSD   Euro Fx/U.S. Dollar
277 0 4
  • Note the Hidden Bearish Divergence.
  • This could be the precipice of a large bear move. Especially since price is being capped by the 50 Weekly SMA at 1.13800.
  • 1. 1400             is major resistance.
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If the Daily candle today (13/10/2015) closes as a bearish candle, the candlestick formation will be a Morning Star .
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Current intraday Pivot is at 1.133 at time of writing. Short positions favoured below this handle.
Expecting next major support at 1.127 / the H4 50 SMA .
Order cancelled: Picking tops is dangerous.
There are no lower highs and USD is not exactly the most bullish of the bunch.
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