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Coleman: As USD becomes a safe haven two plays to sell EURUSD

Ian Coleman from First 4 Trading believes the US dollar is moving towards becoming a safe haven as world markets continue to be hit by China. In this video he looks at EURUSD which he says is currently in an expanding wedge formation.

On Monday he says it hit a 261.8% extension level at 1.1652. He expects limited buying in EURUSD this week and so gives two possible plays.

The first is for the medium term:

Sell: 1.1762

Stop: 1.1800 and abive

Target: 1.1200

The second is Intraday:

Sell: 1.1515

Stop: 1.1555

Target: 1.1320

https://www.tradingfloor.com/about/niird

02:04 minutes
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