The chart shows my working count for the rise started from 1.3026. I think it is corrective in nature and finished this morning at 1.3363 with a bearish triangle. The forthcoming sell-off is a confirmation for the presented idea and the most likely downside target is a new low below 1.3026 till the end of the week. Currently even if we see some recovery of the euro, it should be temporary. With an eye on this I stay on my morning’s short position and the target will be determined later.
Trading strategy: 10:44 EST; 15:44 GMT
Short position from 1.3288, stop loss - 1.3370, target - open
Trading strategy: 03:56 EST; 08:56 GMT
Sell at market (1.3288), stop loss - 1.3370, target - open
This analysis has only informational and educational purpose and does not represent a proposal for buying or selling currency contracts.