Euro Weakness

I have taken a short on the EURUSD (chart below) this morning on the basis of what looks like some weakness. Already in 60 pips profit and have scaled out and managed my stop.

Not entirely sure if this is now going to be a fully fledged downtrend but I have my RTC to watch for a break and close below and I will then use my entry stop loss technique to enter for a longer term position. I would look for confluence of events for a bigger picture though.

I am also triggered in to short position on the USDCAD based on fibs and am currently breaking even. I have a very tight stop on this and my risk is very very small as this is an aggressive trade.

Core Durable Good and New Home Sales are released today.


Chart courtesy of Advanced Get. Data provided by eSignal.

FXCPS Team