EURUSD Looks a Good Sell Back Towards 1.1160

EURUSD Looks a Good Sell Back Towards 1.1160

31 May 2016, 04:46
Roberto Jacobs
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EURUSD Looks a Good Sell Back Towards 1.1160

With the long weekend the markets have had extra time for a short squeeze back towards resistance at 1.1160. Now there’s been change in sentiment whatsoever so I think this last part of the rally is simply a short squeeze.


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We should find good sellers in EURUSD back towards 1.1160 all the way up to 1.1200.

I am getting short a little ahead of that to make sure I don’t miss the entry point.

Order: I am selling EURUSD at 1.1148. With a tight stop in case it does run at 1.1173 & take profit at 1.1073.

There are a bunch of European economic data releases today so I’ll reassess the position then.

Good luck.


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