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Collins: 3 reasons why I'm selling EURUSD
Alan Collins from 3c Analysis is looking to sell EURUSD as he anticipates increased selling in the currency pair. His reasons for selling Eurodollar are:
1. Largest losses in the last 3 months
2. The bottom of the Ichimoku cloud cover has been broken
3. Both the 13 day and 100 day moving averages have been exceeded
Collins has set a target at 1.3490, anticipating that EURUSD will continue to fall. Longer term his target is set at 1.34 for future trading. He warns that intraday risk should be no more than 1.3609.
01:01 minutes
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