Looking for opportunities to continue last week’s Euro shorts as per the charts below. With the crosses, keep an eye on how those currencies are performing against other counterparts. If Euro does weaken then we want to sell it against something strong. Having said that, the below charts do indicate resistance levels where bears are going to sell should Euro shorts continue.

EURUSD H4

As you can see I am in a counter trend trade on EURUSD with my take profit at WPP as I am looking for a short entry at WPP which marks the role reversal of the previous range. Target would be WS2 though keep in mind that Dollar is at the monthly target.

EURAUD H1

1.52 marks previous support. Target of WM1.

EURNZD H1

1.70 marks previous support. Target of WM1.

EURCHF H1

WPP marks previous support. Target of WS2.

EURZAR H1

Red zone highlights neckline of head and shoulder pattern. Target of WM1 or hold this until the SARB meeting at the end of October.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.