Near-Term Short Opportunity in EUR/USD

Dave Floyd Aspen Trading Group

Traders,

A few things are catching my eye on EUR/USD today:

Prices have stalled once again at overhead resistance at 1.2092 - goes back to Sep '17 high
Possible 'flat correction' presently in Wave iv. Prices make a modest new high (above Wave iii) and then have one more leg lower.
If correct - prices could test 1.2000-1.1960

This of course would catch the EUR/USD bulls a bit flat footed. I am bullish EUR/USD overall, but think it has come too far; too fast.

Just something to consider...

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Author

Dave Floyd

Aspen Trading Group

If he lived anywhere but Central Oregon, where the trails of the Cascades mingle with the warm sunshine and fresh air of the high desert, Dave Floyd would probably be one of those guys who lives and breathes trading and analysis 24/7.

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