cheesetoast
Short

Significant sell signal on the EURO

FX:EURUSD   Euro / U.S. Dollar
There has been talk about the Lira and Rand losing a lot of value against the USD off the back of Trumps trade wars and strengthening Dollar. But don't forget the Euro too which might be next to capitulate. Of course, I'm not a fundamental trader or expect by any means so will rely on technical analysis .

Looking at the chart, I believe the EURUSD has just triggered a sell signal which could spell trouble. Not only the Euro , but take a look at the Aussie on the weekly time frame.

Now I'm already in a trade set up but for those that missed out, there will be opportunities on the smaller time frames to join in.

The 2 profit targets I've shown is based on the following patterns:
  • Head and shoulders
  • Bear high & tight flag

Stops above the right shoulder, as usual.

Please give this trade idea a THUMBS UP and I will keep you updated!

Disclaimer: This is only my opinion, make of it what you wish. It is not financial advice.
Trade active: First profit level has been reaches.

As the Dollar is losing ground, the Euro has retraced higher. I'm still expecting downside continuation and whating the DXY chart closely at signs of a reversal.

Rallies on the Euro to be sold, unless the right shoulder is broken
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