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Collins: Why I am shorting EURUSD

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Alan Collins is looking to short EURUSD as last week’s very powerful decline continues to dominate the market.

The decline has since then stalled at the 13-day moving average and a Marabuzo line created on October 9th, Collins says. 

With signals that the bearish sentiment will continue and focus on the downside, Collins is looking to sell at 1.1365 and a rally to 1.1387. His targets are 1.1332, 1.1304 and 1.1277 with a stop above 1.1411.