EURUSD, if you're not short, you are a bit late to the party
Early last week while EURUSD was attempting to threaten 1.1 level, it was in fact giving a very nice bearish signal.
1. Bearish flag: Occurrence of this is potentially signaling the end of consolidation. The downside target to 0.995 is the minimal/conservative target
2. There is no point to enter short now, unless you know what you are doing. EURUSD is fast approaching 1.04878 - 1.04936. This could be a critical level and a break below this could see bulls give up and accept EURUSD parity.
3. A break below 1.049/05 will see a nice gradual drift to 1.
If you want to short EURUSD
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Hope that price will retest the break out level near 1.07303
1. Bearish flag: Occurrence of this is potentially signaling the end of consolidation. The downside target to 0.995 is the minimal/conservative target
2. There is no point to enter short now, unless you know what you are doing. EURUSD is fast approaching 1.04878 - 1.04936. This could be a critical level and a break below this could see bulls give up and accept EURUSD parity.
3. A break below 1.049/05 will see a nice gradual drift to 1.
If you want to short EURUSD
-------------------------------------------
Hope that price will retest the break out level near 1.07303
