EURUSD Short Idea

29 May 2020

Following good bullish moves on the Euro we will be looking for reversal signals that will hopefully see a retracement to the previous lows we have seen. A good set up will see the RSI as oversold on the 4 hour, with the stochastic crossing bearish and a decrease in momentum on the MACD. We will also keep a eye on the DMVT and ADX for a pivot point on volume and trend direction, this trade will be a good entry which could see 360 pip returns. we will only look to risk 1% of my trade account setting a stop loss above the resistance level.