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CityIndex

EUR/USD: Potential swing trade short

Short
Euro / U.S. Dollar (FX_IDC:EURUSD)  
CityIndex Broker  
FX_IDC:EURUSD   Euro / U.S. Dollar
Pivot Points Support and Resistance Economic Cycles EURUSD EUR euro eurusdshort eurusdsell
3
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pivotpoints supportandresistance economiccycle eurusd eur euro eurusdshort eurusdsell
The 10hour chart remains within an established downtrend within a bearish channel. Prices retraced towards the daily pivot point and upper trendline whilst a bearish RSI divergence formed on RSI, yet volumes were notably lower to suggest the rise was corrective. Momentum has turned lower, so perhaps the swig high has already been seen.

- The bias is bearish below 1.0890
- Bears can target the daily S1 pivot for an initial target, although the daily

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