[B]My picks:[/B] Pending Short EUR/USD
[B]Expertise:[/B] Fundamentals and Technicals
[B]Average Time Frame of Trades:[/B] 2 - 10 Days
The down spike in the EUR/USD to 1.3422 during the previous session triggered my entry at 1.3445, and the bounce following the move initiated the stop I placed at 1.3516, the 4/2 high. Despite the adverse move in the euro-dollar, the lack of momentum to break above the January high should keep the pair within range over the near-term, and expectations for further easing by the European Central Bank is likely to weigh on the exchange rate over the following week. As a result, I expect to see a retracement over the following week, and have place another short entry at 1.3723, last week’s high, and placed my target at 1.3407, the 200-Day SMA, with my stop at 1.3799, the 1/8 high.
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