EURUSD: Open Short Trade

EURUSD is still moving in a downtrend channel. Only breaking of 1.3400 resistance level will convince me that this downtrend channel formation has broken. So when I will be placing my stop above 1.3400.

Both MACD and Stochastic have signal SELL on the 4 hourly chart.

The US Federal Reserve had kept its benchment unchanged at 0.25% - 0% range. Apparently USD seems to be reacting positively to the rate announcement . History has shown that in times of crisis, investment community always favours USD more than any other currencies. This trend should keeps USD well-supported in the medium term.

Shorted EURUSD at 1.3300
Stop level at 1.3410
Target level at 1.3026

Risk: 110 pips
Reward: 274
Reward : Risk ratio = 2.74