Looking to sell Euro against $1.1400
The Euro has rallied substantially versus the US Dollar on a broad wave of short-covering, but thus far we're seeing a correction and not in my opinion a new trend. A major level of resistance starting near $1.1350 represents a potentially significant price ceiling, and a close above would represent a substantive shift in trend.
Yet I put low odds on such a move, and indeed I like remaining short against $1.14. Near-term targets start at $1.1090 based on similar volume studies.
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