EUR/USD: downtrend, short-term long and price reaches levels of resistance 61,8% Fibo correction.
Pin bar at levels of resistance and second pin after an attempt for growth - negative signals showing that the short-term downward movement is active.
Indicators are still in positive territory but they are behind the price action signal.
To minimize risk we can wait for a little increase until 1.1138 for a smaller stop loss which must be at least at level 1.1220.
CCI(50) is before break of 100, and if that happen we can use it as a confirming signal for sell.
Markets are waiting for the FED this week. Data from USA are good which increases the possibility for a new rate hike in the next two months. This might support USD.
Stefan D. Angelov - Head of Stocks Trading
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