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Why I’m shorting EURUSD: Coleman
Following the FOMC meeting on Wednesday, Ian Coleman of First4Trading.net is selling EURUSD.
Coleman talks about an expanding wedge formation on the EURUSD daily chart, but says there is no clear indication that the upward trend has concluded. However, he says the formation has an eventual bias to break lower.
He says that a trend of lower highs attracted sellers at 1.1360 and bespoke support located at 1.1200-1.1170. He plans to sell EURUSD at market, the stop is 1.1360 and the target is 1.1200.
01:42 minutes
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