EUR/USD: trend stays short, despite medium corrective movement .
Increasingly lower top and deeper bottom, which gives a signal of possible new short positions in the direction of the trend.
Moving Averages in bearish formation, correction to 13 -25 period Medium - dynamic resistances give good settings for new short positions.
On the daily chart a punctured inner bar below 1.1096 and current inside bar, which means that today the correction is still developing and there is no sell signal as of yet.
Today it is likely that the EUR will accumulate positive sentiment from potential positive vote in Germany for the program for Greece.
Suitable settings for short, after the correction to 1.1072, for a test of the attack, which will allow well-placed stop at 1.1106, with better risk/profit ratio.
Alternative scenario: If the price crosses above 1.1095, an engulfing bar will form on the daily chart and signal for long.
Stefan D. Angelov – Head of Stocks Trading
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