Looking to sell EURUSD as the recent bump from 1.0505 does not seem to have a significant fundamental reasoning, the pairs is still in downtrend. US is in a much better economic position right now, while there are number of uncertainties in EU. As can been seen on the chart, price will be capped in the triangle formation, which will probably lead to a downside break.
Comment:
Describe your update...
Comment:
took partial profit...looking to short again if price retraces to previous support/now resistance at around 1.0480 - 1.0500