I like trend line setups with fundamental strength behind them and this morning I’m shorting EUR/USD on the back of the U.S. durable goods data which was very strong.

A lot of folks think the EUR is good for one more swing up to around $1.49 before heading lower but I think the fundamental picture is ahead of that game now. The chart above tells the trade’s story and I will keep you posted as this trade progresses.

Click here for a run down on the durable goods data.

Best of luck,

Ryan