AdrianRaymondFX
Short

EURUSD in a wedge (resistance at $1.112)

FX:EURUSD   Euro Fx/U.S. Dollar
EURUSD             seems to be in a wedge right now, and prices are currently testing a horizontal resistance level at $1.112. I wrong wrong yesterday in thinking the dollar might bounce following the FOMC minutes (see the related idea on the USDOLLAR             below), but the wedge here makes me think that shorting the euro             might end up a decent play today. I'll be watching this setup closely during the first hours of the European trading session for further information to support a bearish stance today. Right now, any short position should warrant a stop above $1.113, which will theoretically allow for a risk/return ratio above 1:2 given that a downside reversal could lead to prices falling back to $1.10.
The Euro Index is also in a wedge and is testing a key resistance level : https://twitter.com/AdrianRaymondFX/status/619037944234557440
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neilshahh
a year ago
really liking these 30 min charts, keep them up!
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PeterOndrovic
a year ago
This was really precise one, thumbs up Adrian for the next trades.
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AdrianRaymondFX PRO PeterOndrovic
a year ago
Thanks Peter.
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$1.10 was hit last night just for the record.
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