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Ethan_FX
May 1, 2020 1:12 PM

Short EUR/USD Short

Euro Fx/U.S. DollarFXCM

Description

I have identified a good entry point here for a short position on EUR/USD. A big resistance has been touched as news broke yesterday which wasn't good for the USD across the board. I predict this to reverse by the end of the day to the previous resistance which will become support. You can see the market reject the resistance at 1.09918 with a nice bearish engulfing candle. Also the resistance was hit with a high velocity movement which could indicate a reversal is ahead!

Any ideas on this let me know!
Comments
PeterHedger3
Thanks for sharing this.

I think EURUSD will drop soon, lets see what happens :)
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