EURUSD Banner Breakdown

The Catalan election threw strong support behind independence candidates, causing the euro to break below ascending pennant formation. Along with the rejection at the Sept-Nov high line and the US spending bill's passage today, the euro is a good short.

Wait for a pullback to the 1.1850/70 area and enter short to take profit along the Apr-Dec low line at 1.1785 (+65p).

In the event of a continuation, target the demand zone at 1.1730 (+120p).