A look at my intraday EUR/USD short trigger

The 60-minute chart has corrected the intraday downtrend and triggered a swing short. This is an overall trend following trade because the daily time frame is heading lower with a bearish Directional Bias.

I also include a look at the U.S. Dollar Index and the Dow Jones for a look at the “forextra” factors that could help the follow-through the reveal how long this correction higher in the EUR/USD could last.

  • Rohit Saxena

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  • arbitrage

    Well said. I learn a lot from your article and video.

  • Forexonlineguide

    I could see the EURUSD hit 1,30 or lower in the following weeks. While the US does suffer from slowing growth, it is still in a much better shape then the Eurozone, where a few countries could face a bailout that would hurt the Euro even further.

    On the US side, if the markets keep falling, the US dollar is just going to strenghten even more. Investors’ confidence is very low right now, and I don’t see it going back to normal anytime soon.

    Sincerely,

    Marco