Taking Some Profits on EURSUD SHORT.

9 thg 3, 2018

As per my discussion here and here the EURUSD is still ranging with price oscillating around the 1.245-1.235 mark. Although I'm not a huge fan of candlestick patterns, previous three days put in a Bearish Evening Star after hitting up against trendline resistance, area of supply, and the 61.8% retracement level. I've been short since 02.16.18 with several lots and decided to take +150 pip profit on one of them at the end of the New York session yesterday. Currently sitting on +130 pips between 3 lots. As I'm typing this the EUR is rallying intraday as the USD declines after a muted NFP announcement. As I wrote here, the USD rally can't be considered on and the prevailing trend is still down. As I see it, only a decisive break and close above 91.00 signals a Bullish dollar.

Trade accordingly.