Mihai_Iacob

EurUsd- I'm looking to sell rallies

Short
FX:EURUSD   Euro / U.S. Dollar
Since mid-July, EurUsd has entered a downtrend. The confirmation for this came with a break under the one-year-long up trend line in mid-August. After the confirmation of resistance at 1.0930 at the beginning of September, the pair made a new 250 pips leg down and stopped in support.
Now EurUsd is trading at 1.0715 and is consolidating.
A correction to the upside could follow and this could offer bears the opportunity to sell at better prices.
In conclusion, in my opinion, traders should look for selling opportunities around 1.08 for a 1.05 target.
Only a break back above 1.0950 would shift my outlook to bullish

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