FX:EURUSD   Euro / U.S. Dollar
490 2 10
There are many reasons for this short. A breakout wedge on lower time frames has formed. On the higher time frames, a very large triangle has formed. I feel as if this will breakdown and allow us to reach the mid 1.08xxx area.
I like the idea. Why would you expect it to reach the mid 1.08xx and not bounce of the bottom bounds of the triangle around 1.09
+1 Reply CFDTradingo
Because I have seen this play before multiple times. It is unlikely that Euro will sustain such a rally. The market has priced in a hawkish stance from the ECB and can now resume a bearish direction until further instigation from both the FED and ECB.
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