Forex Trading Alert: EUR/USD – Bearish Formation Is Underway

Posted by Nadia Simmons - Sunshine Profits

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Forex Trading Alert originally sent to subscribers on December 31, 2015, 5:35 AM.

Yesterday, EUR/USD moved little lower as Tuesday’s solid consumer confidence data continued to support the greenback. Thanks to these circumstances, the probability of further declines increased as the bearish formation is underway. What impact could it have on the exchange rate in the coming days?

In our opinion the following forex trading positions are justified – summary:

EUR/USD: short (stop-loss order at 1.1363; initial downside target at 1.0462)
GBP/USD: none
USD/JPY: none
USD/CAD: none
USD/CHF: none
AUD/USD: none

….go HERE for more analysis and larger charts

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