EURUSD New Year Institutional Short Setup & a MERRY CHRISTMAS!
First of all... MERRY CHRISTMAS & HAPPY HOLIDAYS to all of you traders! I hope you all enjoy the weekend and have great times with your friends and family! Focus on what is important and enjoy the time away from the charts. Come back next week feeling refreshed and ready to make money!
Review today's short-term technical outlook:
We are clearly still in a downtrend on this pair and the spike high up into the 1.05 figure showed that there are pending shorts up in that area. This 1.052 figure was previously strong institutional support and on the lower time frames it already proved to become resistance after being broken. Another spike into the figure will offer a very good shorting opportunity with limited risk and a great reward!
As always use a 30-40 pip stop loss and look to get whatever you can on the profit side. A move down to the previous lows is likely, but always monitor price to justify profit taking. Don't get greedy!
Enjoy!
Review today's short-term technical outlook:
We are clearly still in a downtrend on this pair and the spike high up into the 1.05 figure showed that there are pending shorts up in that area. This 1.052 figure was previously strong institutional support and on the lower time frames it already proved to become resistance after being broken. Another spike into the figure will offer a very good shorting opportunity with limited risk and a great reward!
As always use a 30-40 pip stop loss and look to get whatever you can on the profit side. A move down to the previous lows is likely, but always monitor price to justify profit taking. Don't get greedy!
Enjoy!
