trustbrokergroup

EUR/USD SELL - 27/10/2017

Short
FX:EURUSD   Euro / U.S. Dollar

After significant fundamental factors the ECB meeting, the decision on the interest rate), EUR/USD demonstrated a strong fall of the price. The downward movement was sharp and on very large volume. As a result, the price broke through the lower boundary of the consolidation and continued its falling. Also it is necessary to allocate 2 new levels of resistance. The first 1.1692 - 1.1705, the second 1.1740 - 1.1760. In both levels, large volume is concentrated. Considering all the above factors, now it is worth considering exceptionally short positions for this currency pair. Sales can be opened after a smooth correction of the price up on small volume. A stop loss should be placed a little above the resistance level 1.1692 - 1.1705. A potential of the fall
is 150-160 points. If the price breaks through this resistance level, our scenario still remains relevant, but it is applicable to the second resistance.

The bottom line: short positions are in priority.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.