SamKent

EUR/USD hitting some resistance

Short
FX:EURUSD   Euro / U.S. Dollar
4
The EUR/USD is testing the kijun sen resistance on the 4H chart. This in the context of a well defined down-trend, and resistance just above from the kumo and a descending trend-line. The aggressive approach would be to short at market, the more conservative traders could wait for the trend-line+kumo cloud area to go short. We think either alternative is reasonable, in fact, we prefer to take both alternatives by going short for 1/2 of our standard size at the kijun and then adding the second 1/2 if indeed price hits kumo+trend-line resistance.