EURO-DOLLAR HISTORIC BREAKOUT|PULLBACK SHORT|

٢٧ يوليو ٢٠٢٠

We are witnessing history as the massive breakout of the 11 year long downtrend line is unraveling before our eyes.

However, the pair is facing the first horizontal structure on its way, and I am looking for a pullback short.

The RSI is overbought and I'd guess that some will be taking profits now.

With the massive resistance broken, I am not suggesting a mega swing short, but a retracement back to the broken line for a retest in the light of a new obstacle is possible. Trading is all about probabilities, so keep an eye on the price action around the current level.

We either turn back and then a short opportunity presents itself or the impulse drags us higher, and then even a long is possible after another breakout.

Thank you for reading, like and subscribe to morally support yours truly, who happens to be a stubborn dollar bull, thank you in advance.