The EUR was unable to rise and close above an important level from the Daily chart. As it runs into sellers, we go short with a stop loss just above the session high. A 23 pip stop loss for a potential 153 pips to our Target 2 is hard to resist…especially when trading in the direction of USD strength today.
Price predictably heads to the Asian session highs and pauses awaiting the US economic numbers. As the USD strengthens the EUR descends through the Asian session lows where it pauses and retests the level taking us out of the trade just after Europe closes for the weekend.
Good luck with your trading! Enjoy your weekend!
Back Tuesday if we find a trade.