fxstudent299

EURUSD short in the next days - Rejoin EURUSD Downtrend

Short
FX:EURUSD   Euro / U.S. Dollar
Rejoin EURUSD Downtrend after strong NFP

I will try to enter EURUSD short 1.2410,
SL 1.2515 (-105), PT 1.2195 (+215) (R:R=2. 05 )

- 20EMA on 1d chart is at 1.2438, so price should not move much higher above it (SL@1.2410 quite safe)
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after strong NFP on last Friday, no follow through to downside but surely many new/late shorts (even more after fall under 1.2300), so many are stucked on short positions, which will be closed, as soon as price goes above 1.2360, whereafter a short squeeze could spike up to 1.2450, and once those late shorts are out, major DOWNtrend should continue to downside

if a clear rejection between 1.2350 and 1.2365, so maybe a short position based on 1h chart with SL 10 pips above high of that rejection and TP@1.2280