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EUR/USD An Open Opportunity To Sell

EUR/USD

Euro is currently being played out with the help of charting technique, this is why it is important to candlesticks and line charts with at least 10 basic patterns. The old long term pivot band has helped the Euro close within 7 pips for the last 4 sessions. We have identified this move with the help of candle stick pattern when the price failed to recover upside and was just few pips away before forming a gravestone doji and is noted by measuring the opening and the closing at the low level with a failed upside move. This shows that the bulls are not in a position to take control and was denoted with a doji. We are a seller and will continue to sell on all regains and the present move reflects that. The momentum indicators are pointing south and we expect for a correction towards 1.1001 first followed by 1.0949 about 50 to 100 pips from the current level. The current level is clearly a selling opportunity.

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