Trade Setups For This Week: EUR/USD, GBP/USD and S&P500, August 29th, 2016

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Trade Setups For This Week: EUR/USD, GBP/USD and S&P500, August 29th, 2016

Postby kreslik.news » Mon Aug 29, 2016 8:34 am


EUR/USD – euro/dollar falls from key resistance area



We can see in the chart below that a large bearish reversal took place on Friday in the EUR/USD, showing that price is respecting the upper-boundary of the long-term trading range we have discussed in recent commentaries. This reversal could signal that prices are ready to fall further, back down to support levels. So, this week we can look to sell this pair on any temporary strength whilst prices remain under 1.1400; watch for 1 hour, 4 hour or daily chart sell signals to get short on any retraces to the upside.

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