EUR/USD/Technical Analysis

EUR/USD: Break below 1.3080 targets 1.2915

Possible double-top on the short-term EUR/USD charts which would be confirmed by a break and hold below 1.3080. The obvious target should it break lower would be 1.2915.

Obviously such a break lower would need USD sentiment to improve dramatically and the recent EUR bullish sentiment on the crosses would also need to weaken.

Wait for the bearish break to be confirmed and then sell any small rallies with a stop-loss order clearly above the neckline.

  1. Hi Sean,

    Could you explain me how do you find this target at 1.2915 ? I would believe that the target would have been 1.2995. When I calculate the width between the top and support (1.3165-1.3080=85 pips). My target is 1.3080-85 = 1.2995.

    I guess, you have targetted the next support ??

    Thanks.

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