In my view, the chances that the EURUSD has finally topped over the medium to long term are high. Lets assess whats going on,
-The weekly chart suggests multiple breakout
- breakout and completion of a long term top pattern
- breakout and completion of a
-Bearish breakout and stability below the a cluster of key long term moving averages.
- A new series of lower highs and lower lows established
Targets are illustrated on chart.. I am looking for an upside correction, i will be shorting near 1.3500, with a stop loss daily closing above 1.3700 and targets at 1.3300,1.3100 and 1. 2750 .
As usual, limiting your risk at any trade is compulsory, increases your chances of success, but never works all the time.
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