EURUSD Trading Setup

Dear Traders,

Today, I will be quick and to the point. I am looking at the EURUSD and a possible reversal formation. As you can see in the article I wrote about EURUSD last week, I was expecting this happening. Now, my expectations have been confirmed. The EURUSD has hit this level and has formed a bearish engulfing pattern. It looks to me that a lot more sellers will join the bearish mood soon. I will be looking to enter in a short trade if I find a suitable intraday signal at around 1.0850. My stop loss would be placed just above 1.0950. My first target is the level of 1.0750. My next target is the level of 1.0500.

Happy Trading,

Colibri Trader