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Coleman: How I'm selling into EURUSD rallies

EURUSD is the focus of Ian Coleman's FX trade this Friday. After six days of consolidation, it's posted little net change. However, this has formed a descending triangle formation. Through the week, he's been selling into intraday highs and is going to continue that trend today.

He's looking to sell at 1.3385 and at 1.3401, the bespoke resistance level. The trend of lower daily highs is coming in at 1.3420 so he's putting a stop above there at 1.3425. The target is 1.3340, the base of the triangle formation. If we break there, he says, we're only going to look to 1.3318 which is the base of the Ichimoku Cloud formation.

01:14 minutes
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