A fairly light news day for economic releases to begin the week and the USD remained strong.
There was an initial move lower after the U.K. session got underway, followed by a pullback going into the U.S. session overlap. As the EURUSD began to move lower again, a short was taken risking 20 pips for a potential 77 pips to our daily target at 1.0680.
Price moved lower to the 107.25 area before some profit taking going into the European close. The final two candles of the U.K. session had the pair trying to extend beneath the 1.0725 level and we closed our trade as the U.K. session ended.
This was a fairly easy trade to enter as the hourly and daily charts already had confirmed downside momentum.
Good luck with your trading!
