EURUSD: Preparing for Reversal.

3 באוג׳ 2017

EURUSD is way overbought and has almost hit the lower cloud boundary of Monthly cloud on monthly chart. I believe this is the time for a reversal. The daily chart showing that pair is extremely overbought and stretched, and it's just a game of one lower low and one lower high. I would recommend to short the pair now than later. The pair is facing a strong resistance and can see a really harsh rejection. I would say that this is the golden opportunity to Short the pair to earn at least 300 pips.
Recommendations: SHORT at 1.18600, Target 1.15000 initially and if breaks that Blue area on daily basis then short more towards 1.13000

Good Luck..