Momentum Topping Pattern, Gap Down Reinforces Bearish Bias
EURUSD carved a lower high on Friday as Hourly RSI respected down trend from the 9th and double topped around 60. Gap lower to start the week reinforces our bearish bias. Pair is bearish absent a breach of Friday's high/Momentum break above 60.
We are moving stop to break even on short from 1.1302 as Friday's high failed below there - Risk free - Holding short. Need a break below trendline support/1.1 to open up drop towards 1.08 and multi-year lows around 1.05
We are moving stop to break even on short from 1.1302 as Friday's high failed below there - Risk free - Holding short. Need a break below trendline support/1.1 to open up drop towards 1.08 and multi-year lows around 1.05