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.
This content is strictly for informational purposes only and does not constitute as investment advice. Trading any financial market involves risk. Please read our Risk Disclosure to make sure you understand the risks involved.