How about selling EUR/USD?

How about selling EUR/USD?

2021-06-08 • Updated

H4 Chart

eurusd h4.png

Daily Chart

eurusd d1.png

EUR/USD managed to recover some of its last week’s decline, rising for the 2nd day in a row (Friday & Monday). However, such upside momentum is unlikely to continue, especially after the pair broke its uptrend line on the daily chart last week. The current upside move should be considered as a short-term bounce before the downside retracement resumes. Therefore, it's worth it to risk some short positions between 1.2180 and 1.2205 today with stop loss at around 1.2225 only, while the euro may retest last week’s low, which stands at 1.2104. This would be our first target for this trade.

















AUD/USD  is looking badly
AUD/USD is looking badly

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s.

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Technical analysis for EUR/USD
Technical analysis for EUR/USD

EUR/USD found support at 1.1845 and is currently trading just below the 61.8% Fibonacci retracement of the March-May advance at 1.1920.

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