As mentioned in previous posts, EU has significant resistance at 1.3380. However price was caught in an ascending triangle and I have been waiting for the break out of the triangle before trading this pair.
Chart below
The break has taken place following the news last night.
If we can get a pull back to the averages and pivot points then I will be looking to enter short.
Entry levels and chart below
Entry: 1.3265
Stop: 1.3305
Target: 1.3065
I may have to adjust these levels as the pull back develops, however this is the area that looks most likely at the time of writing.
Regards
Scott
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