EUR/USD: Take advantage of 200 pip rallies in a bear market
The EUR is in a world of pain at the moment, falling heavily across the board. This bear trend doesn’t look like ending just yet so selling rallies in EUR/USD is the most obvious strategy. Last night the pair bottomed out at 1.3835 before rallying strongly to 1.4050 on short covering. A break back above 1.4070 might indicate a short-term base for the bear trend, but in the meantime take advantage of 200 pip rallies to set fresh shorts and don’t forget to book profits on those dips. Put opinions and emotions aside, these are great markets for trading in.