Trade Setups For This Week: EUR/USD, AUD/USD and S&P500, September 5, 2016

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EUR/USD – euro/dollar reverses after brief retrace higher

In our previous EUR/USD discussion, we talked about looking to sell the pair on strength last week whilst under overhead resistance near 1.1340 – 1.1400. You will notice that on Friday a large reversal bar formed, showing that sellers had come back into the market.

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This shows us again that bears (sellers) are controlling this pair and could push prices lower this week. Traders can look to sell this week on any early strength, targeting support below the ... (read more)