EUR/USD SHORT

3 thg 3, 2019

Finally- I think it is time to say this pair looks ready to fall like a rock. There has been a lot of manipulation on this pair with false breaks higher and lower, trapping traders both ways. But this week we have the 50 Day SMA holding price underneath it, rejecting buyers multiple times this week. We have a Gravestone Doji followed by a Shooting Star bearish rejection candle on the strong resistance of 1.1400. This resistance and 50 Day SMA also lines up perfectly on the powerful 618% Fibonacci retracement level. We will be watching for a sell off with a break of the strong 4H support, identified with the grey box on my chart at 1.13500.