EURUSD - We Look to Sell at 1.1337

EURUSD - We Look to Sell at 1.1337

10 June 2016, 08:58
Roberto Jacobs

EURUSD - We look to Sell at 1.1337 (stop at 1.1377).

EURUSD - Broken out of the wedge to the downside. Bearish Outside Day posted, a pattern that often indicates the end of a bullish run and the start of a new downward bias. The Marabuzo level from the 03/06 is located at 1.1255. Bespoke support is located at 1.1289. Risk/Reward would be poor to call a sell from current levels.

Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 1.1338, resulting in improved risk/reward. Our profit targets will be 1.1277 and 1.1255.



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