Alan Collins of 3cAnalysis is looking to short the EURUSD at current levels and sell a rally.

Collins says that the background to the negative undertone for this currency pair goes back to May’s bearish weekly Shooting Star pattern that marked the top of 9-month highs.

Alan Collins targets are 1.1188, 1.1069/96 and 1.0941.

The risk is currently assessed as 1.1463 although this will be constantly reviewed, he says.

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