SaxoTV
Collins: Three reasons to sell EURUSD
350 views
Alan Collins is looking to sell EURUSD amid the volatility and uncertainty surrounding the Greek crisis. He's spotted three main technical reasons to back his call.
• Monday’s rally failed at both a weekly and daily Marabuzo line.
• The bounce from the negative gap lower on Monday was also capped by the trend defining 13 day moving average
• The daily Keltner channel is again angling lower.
Confirmation will be a clear break of 1.1100 and preferably the 100 day moving average and Alan adds, "...underlying sentiment is, in my assessment, negative."
Sell at 1.1150 and 1.1175/80 area.
The risk level is currently assessed as 1.1218 but will be under constant review.
The downside is likely to focus on 1.1083, 1.1049 and 1.0993