EURUSD Short Position

• Monthly- bullish movement towards resistance of channel & weekly resistance
• Weekly- rising wedge & shooting star candle stick could signal bearish week
• Daily – bearish engulfing 3 candles at resistance of rising wedge
- Potential crossover in MACD signalling bearish move
• 4 hour – trend has crossed 21 MA and there’s cross over in MACD
• Hourly – pullback which has produced good sell opportunity however MACD signals bullish move
- MA crossover signalling bearish move
• Verdict: will look to sell once broken hourly trend and set TP at 1.16610 TP with 2:1 risk/rewards
• Fundamentals: US economic data e.g. CPI