The Euro Reversal setting up, waiting on Dollar to break support…

Euro Futures: 07:22am PST / 10:22am EST

Looking for the reversal off the low of day, and getting above the trigger line on the 21-range chart.

We have the dollar resting on support, so watch the dollar around 82.995 area, when that gets broken expect the Euro to launch!

Entry long above 2895, looking for profit targets of 2920 (1/2), 2950 (1/4), and the final target all the way to the top at 2895 (1/4)

The key will be to see the Dollar Index (DX) break this support, and we have our Price Alert technical indicator set to tell us when that break occurs.
 

I’m looking to sell these highs for a nice easy winning trade. I don’t like the idea of buying the highs because the high of day @ 1194.5 is a triple-top and this will be a very difficult spot to see clear entry confirmation.

My entry will be short below 90.2, and I will take my first profit target at the 21range trigger line (88.5)

I will take ½ my position off at 88.5, and then look to take ¼’s off my position as the trade works for us at 86.0 (recent swing high) and my final target of 83.5 which is all the way down to where the open of the day on gold is.

We notice that SPEED of the TAPE is slowing at the highs on Gold, so look for this reversal to be a nice easy win!