EUR/USD:
1.2456
Very Short-Term Trend: Downtrend
Outlook: As expected EUR continued its decline and easily achieved our target at 1.2470. Now, the hourly downtrend remains strong and despite the oversold conditions I expect further weakness today twd the next downside objective at 1.2350. The question is, how to re-enter this market. Maybe on a small recovery from here (if it occurs) against 1.2520/25 chart resistance.
Strategy: The hypothetical short position from 1.2572 raached its objective at 1.2470 (102 pts profit). Shorts favored again on a recovery here against 1.2530.