As of late
EURUSD
has made several attempts of breaking out to the upside, although on each occasion has been rejected by key resistance of approximately 1.100.
Through out this period of consolidation this pair is currently experiencing (via an ascending triangle) I continue to hold a bearish outlook, with views of the market gearing up to complete its next leg lower - printing fresh lows initially at the 1.025 handle.
My intentions are to stack
EURUSD
shorts on the break of the counter-trend line and the retest of 1.080. Initial targets lay at the 1.050 mark, with secondary targets at 1.025 (daily ABCD completion).
Alternatively, price may break above 1.10. In the occurrence of this break-out, I would look to re-asses this particular pair.
EURUSD
has made several attempts of breaking out to the upside, although on each occasion has been rejected by key resistance of approximately 1.100. Through out this period of consolidation this pair is currently experiencing (via an ascending triangle) I continue to hold a bearish outlook, with views of the market gearing up to complete its next leg lower - printing fresh lows initially at the 1.025 handle.
My intentions are to stack
EURUSD
shorts on the break of the counter-trend line and the retest of 1.080. Initial targets lay at the 1.050 mark, with secondary targets at 1.025 (daily ABCD completion). Alternatively, price may break above 1.10. In the occurrence of this break-out, I would look to re-asses this particular pair.