EURUSD: Short Trade Setup Taking Shape
The recent rally in EURUSD looks corrective, with prices retesting support-turned-resistance at a rising trend line set from the swing low in June. The 61.8% Fibonacci retracement of the downswing from November’s high (1.3741) reinforces the upside barrier. A pair of Doji candles below this juncture points to indecision and hints sellers have an opportunity to retake momentum. I will look for a corrective bounce toward 1.3730 to look for an attractive opportunity to enter short, initially targeting the 1.30 figure with a stop on a daily close above 1.3860.
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