The EURUSD has shot up after the Italian referendum and caught a lot of traders off-guard. I think this is a pure short squeeze, but not my opinion is what is important. The level around 1.0800 is the 1.618 Fibonacci inversion of the last down move. More importantly it is previous structure and the 38.2 Fib retrcacement of the whole down move. The RSI is overbought. I think this is great place to get short in EURUSD.
Trade active
Trade closed: target reached:
Half out. Stop moved to breakeven. Just to protect some profits.
Trade closed manually:
Second half also closed. I do not want to hold it over the weekend and it has been a nice winner.