Selling Euro/US Dollar Strength
I think we're finally in the midst of a broader US Dollar reversal, and I'd like to take advantage of EUR weakness in selling it against the resurgent USD. My sell target is a bit wide at the moment because I think we're in the midst of a short-term bounce. But I like selling in the 1.4300-1.4350 range, setting stops above recent congestion highs at 1.4450. A hold of thse levels would keep a wide head&shoulders formation intact and would target continued weakness. First target comes in at the 50% Fibonacci retracement of the 1.2850-1.4940 move at 1.3900.
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