EURUSD UP TO 1.115ish area

6 maj 2017

Can't ignore the near 65% retail traders short in this pair and keeps going up. Possible short squeeze set up coming? Just and idea I am kicking around. Brake of TL resistance after a choppy consolidation period. Short term resistance looks to be around 1.1150 area, at the previous support from a double bottom. Could see a bounce from there and back to TL resistance which will turn to support. From there either a break up to 1.14 or back to 1.115 area then back to TL resistance turned support and then maybe a break through to 1.14 area where the prevailing falling trend line could offer substantial resistance.