How about selling EUR/USD?

How about selling EUR/USD?

H4 Chart

How about selling EUR/USD?

Daily Chart

How about selling EUR/USD?

EUR/USD chart

EUR/USD managed to recover some of its last weeks decline, rising for the 2nd day in a row (Friday Monday). However, such upside momentum is unlikely to continue, especially after the pair broke its uptrend line on the daily chart last week. The current upside move should be considered as a short-term bounce before the downside retracement resumes. Therefore, its worth it to risk some short positions between 1.2180 and 1.2205 today with stop loss at around 1.2225 only, while the euro may retest last weeks low, which stands at 1.2104. This would be our first target for this trade.

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