EUR/USD Morning Technical Report 22/8/2014

On the above graph, we notice that yesterday's bullish rebound remained limited below Linear Regression Indicators around 1.3300, and trading below the referred to level is negative today. Despite that Risk/Reward Ratios are still inappropriate, we bet today on a downside move and place the stop-loss of our expectations intraday above 1.3320, so the risk is reduced targeting again 1.3230.

From the downside, breaking 1.3230 leads to further bearishness intraday today. Of note, failing to break the support represented in 61.8% correction forces us to close our selling positions.