EURUSD 10/05/2016

From the day chart of EURUSD, the peak points are lowering down. In other words, EURUSD is downward trending, so we are looking to short EURUSD at any significant pull back (but not exceed the previous high point).  But it looks like EURUSD has strong support at 1.1100 area. The chart is similiar to gold.

We are looking to sell euro at 1.1230 to 1.1250 area, while the target is 1.1100 area. The stop loss will be 1.1280 to 1.1290.

eurusd_oct05_2016

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