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20 Jun 2013
EUR/USD, look to sell at ether 1.3333 or 1.3381 - 2ndSkies
FXstreet.com (Barcelona) - The EUR/USD was hit by a massive wave of selling interest on broad-based USD strength, resulting on the printing of a sizeable bearish engulfing bar on the daily chart. The candlestick took out the past 5 days of gains.
As Chris Capre, Founder at 2ndSkies, notes: "Intraday price action is bearish, so I’ll consider selling around 1.3381 which is a role reversal level that failed to hold the upside, so it should attempt to keep the bulls in check." On the downside, Capre is looking for targets at 1.3280 and 1.3200. Lastly, the Trader and Educator adds that "a more aggressive level to sell would be 1.3333."
As Chris Capre, Founder at 2ndSkies, notes: "Intraday price action is bearish, so I’ll consider selling around 1.3381 which is a role reversal level that failed to hold the upside, so it should attempt to keep the bulls in check." On the downside, Capre is looking for targets at 1.3280 and 1.3200. Lastly, the Trader and Educator adds that "a more aggressive level to sell would be 1.3333."