EURUSD – Looking to Sell After Short Term Bounce
While the Euro has been struggling to lift off the bottom near 1.2900, it is short term forming a corrective structure that shows elements of a potential bounce near term (4hr chart below).
Overall though, I prefer to be a seller on a retracement. The first layer of resistance comes in at 1.3110 with a role reversal level at 1.3150.
Hence, I’ll look to sell on weak/mild pullbacks into this resistance zone, in anticipation of the downtrend resuming so we can trade with the trend.
GBPUSD – Approaching Key Resistance
After bouncing from the 1.6060 support level as we anticipated in our Sept. 9th market commentary, the Cable has consolidated just …