FX:EURUSD   Euro / U.S. Dollar
It’s difficult to see anything other than the short given the huge rejection seen from 1.1480 last week but we must remain vigilant to the fact that we have seen a clear Higher High formed on the daily timeframe and we a yet to break the previous Macro swing low at 1.1300 therefore Long and Short positions must be considered this does provide us with options which is a good thing but entries and Stop Losses on any trade taken must be disciplined. Short entries are very clearly set out, a break below 1.1350 should be sufficient enough to see 1.1280 found next. Long entries however we must be a little more patient with 1.1400 will give us the highest probability however given the success of the last two weeks I will be happy to wait for a simple 20-80 trade with entry at 1.1420 and target being 1.1480