Major investment bank going short EUR/USD

Source: www.forexlive.com

The guys over at Citibank have been having the same problems as myself the last few weeks, they are being chopped around in the wash. Nevertheless they always think their technical, fundamental and market arguments through before putting on a trade. They have gone short EUR/USD at 1.3800, with a target at 1.3350 and a stop-loss at 1.3950. They have been tracking a H&S on the Gold chart which has now broken down and, although lagging slightly, they expect a similar formation to continue developing on the EUR/USD chart.


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