On my post 16,222 I uploaded a Barclays report, and a ForexFactory staff told me that Barclays contact FF and they erased the file on copyright issue, it's okey. Meaby barclays look on the search engine and found that, LoL.
Coming back to the euro, key resistance today 1,2670. I think good levels to short are:
1st plan: 1,2670
A plan: 1,2710
B plan: 1,2780
C Plan: 1,2970
Targeting 1,25 and 1,22
D Plan: Long for scalping 1,2590, with adjusted stop loss.
Strong support level on 1,2600
- - - - - - - -
The elliot wave theory suggest a rebound like the next chart, but the TRLO programme and fundamentals are quite bearish and a rebound of extreme oversold conditions plus CFTC shorts covering, would suggest a good short level. TRLO means more euros on market (bearish fundamental), FED tapering QE means less dollars on market (USD bull fundamental). Next year higher interest on Fed Funds is bullish for USD. The macro trade is to short the euro, but a rebound can happend on ECB or NFP. They key is the risk managment.
Greets.
Source of chart: http://www.roboforex.com/analytics/f...ave1-01102014/
Disliked1,2661 key support level. FX Blueprint - Theme #1: Euro Pah! – Sell EUR trade-weighted, sell EUR/USD - Deutsche Bank {image} Barclays {Copyrighted materials removed} {image} {image}Ignored
1st plan: 1,2670
A plan: 1,2710
B plan: 1,2780
C Plan: 1,2970
Targeting 1,25 and 1,22
D Plan: Long for scalping 1,2590, with adjusted stop loss.
Strong support level on 1,2600
- - - - - - - -
The elliot wave theory suggest a rebound like the next chart, but the TRLO programme and fundamentals are quite bearish and a rebound of extreme oversold conditions plus CFTC shorts covering, would suggest a good short level. TRLO means more euros on market (bearish fundamental), FED tapering QE means less dollars on market (USD bull fundamental). Next year higher interest on Fed Funds is bullish for USD. The macro trade is to short the euro, but a rebound can happend on ECB or NFP. They key is the risk managment.
Greets.
Source of chart: http://www.roboforex.com/analytics/f...ave1-01102014/
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