Risk Off!

There have been some good trading opportunities in the volatile price action across the board today with potential for a reverse in recent risk sentiment on the cards as markets respond to the prospect of an end to central bank easing policies.

Looking at the below EUR/USD chart we saw the formation of a double top culminating in a decisive Bearish outside day.  This could signal the start of a change in the recent bullish market sentiment and a continuation of the longer-term bear trend.  I will therefore be looking to play the short side tomorrow and shall be leaving sell-orders in the market overnight around the 38 & 50% fibs just in case we manage to trade up to these levels.