EURTRY short

After a big bullish impulse we have seen a big rejection of the 6.70 level. Price is now under Kijun Sen and MA20. Macd confirms the bearish momentum. In the recent days we saw an attempt from the bulls to continue the upside momentum but it has been capped at the 6.56-6.57 level 3 days in a row and yesterday we ended up with a big bearish move.

I will not be surprised to see the 6.37 level retested but we will face some resistance along the way in the form of MA50. All in all I remain bearish in this pair for the time being.

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