Technically Speaking
EUR/USD is coming up on a confluence of resistance at 1.1125 and the 100 DMA. When I refer to confluence, I mean that 2 or more technical levels/indicators that are obvious to everyone.
Risk Factors
The biggest risk factor is the Non-Farm payroll report on Friday at 7:30 CST.
What to do?
From these levels, the R/R would seem to favor a short position. I usually wait for price action, but for those that don't, a stop above 1.1160 seems reasonable.
EUR/USD is coming up on a confluence of resistance at 1.1125 and the 100 DMA. When I refer to confluence, I mean that 2 or more technical levels/indicators that are obvious to everyone.
Risk Factors
The biggest risk factor is the Non-Farm payroll report on Friday at 7:30 CST.
What to do?
From these levels, the R/R would seem to favor a short position. I usually wait for price action, but for those that don't, a stop above 1.1160 seems reasonable.
