EURUSD: Time to go short again?

Yue Wang LinoCapital

According to yesterday's view, EURUSD closed below 1.2347, we see short term downside risk.

Price is also probed into daily Ichimoku cloud and opened below Kijun-Sen.

Daily slow stoch is cross-over and RSI is capped by downtrend line.

It's time to label 1.2413 as wave d in the triangle.

According to my system, we still in the daily buy mode; but today we have fresh daily buy signal of DXY.

So we'll try to trade EURUSD from the short side.

If today close back above 12379, will indicate uptrend resuming.

EURUSD Trade Idea:

Sell at market, spot 1.2343, add 1.2353/67 stop 1.2415 for 1.2075.

(Intraday trader may take profit @ 1.2305/15, look to re-sell next week)

Click on the image to enlarge

Author

Yue Wang

LinoCapital

Master's Degree in Hepatobiliary Surgery. 

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