EURUSD: Short squeeze over? - 2ndSkies

FXStreet (Bali) - Following Wednesday's decline in the EUR/USD, Chris Capre, Founder at 2ndSkies, is now expecting offers to come back in on any pullbacks into the role reversal level around 1.1535.

Key Quotes

"After the Euro pairs had a nice short squeeze yesterday, the pair formed a pin bar off a role reversal level, hovered for a bit, then sold off aggressively to close the days on the lows."

"I'm expecting offers to come back in on any pullbacks into the role reversal level around 1.1535 for another attack on 1.13 and perhaps 1.11. Only a daily close above that level negates the bear trend MT."