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28 May 2015
EURUSD: Looking to sell on rallies - 2ndSkies
FXStreet (Bali) - Chris Capre, Founder at 2ndSkies, is suspecting the Euro will be sold on pullbacks, so he remains focus on the idea of engaging on the sell-side on a rally.
Key Quotes
"Although we saw a price action exhaustion spike lower followed by a false break and bounce back up towards 1.09, I'm suspecting the Euro will be sold on pullbacks, so am looking to sell on a rally."
"My pullback zone I'm looking to get short around is 1.1070 as this is a key role reversal level. Downside I'll be targeting 1.09 and 1.0827. Only a daily close above 1.1070 negates my bearish bias."
Key Quotes
"Although we saw a price action exhaustion spike lower followed by a false break and bounce back up towards 1.09, I'm suspecting the Euro will be sold on pullbacks, so am looking to sell on a rally."
"My pullback zone I'm looking to get short around is 1.1070 as this is a key role reversal level. Downside I'll be targeting 1.09 and 1.0827. Only a daily close above 1.1070 negates my bearish bias."