EUR/USD: 2 Minor Sell Signals Now
Jason Sen | Jul 26, 2017 05:40AM ET
EUR/USD 2 minor sell signals now, we have been waiting for this for a few days. Minor support at 1.1650/40 is being tested as I write. Today we have stronger 7 week trend line support at 1.161005 which is likely to hold the downside on the first test today. Bulls will not just roll over and let bears take control without a battle but longs are very risky now. A break lower therefore is an added sell signal targeting minor support at 1.1550/45 and strong support at 1.1490/85 for a buying opportunity in top next week.
Major important resistance at 1.1710/1.1740 is all that matters in the longer term. You already know all about this of course. If you think the 7 month recovery is over done (as I do) this is the area to try shorts with stops above the 500 week moving average at 1.1800.
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