DislikedShort EUR/USD 1.5484
If EUR has the ability to get back up here at some point, I'm looking for continuation of the downtrend. This level has been by far the strongest hold as of recent, but price needs to get above 1.5461. As I write its hovering it. Targeting 1.5300 - 1.5290, which is also worth a fade when price gets down there. 1.5520 is the next level higher, and is also the .50 retracement, but price will have a very hard time breaking through these lows without some sort of strong stimulus.
Some edits: Price got through 1.5461; expecting a volatile trading session later tonight and tomorrow. The initial fade on this level will provide some pips, but if it gets broken, look for the 5520 level 35 pips higher.
Based on both fundamental and technical outlook the trend on this pair is obviously down. There might be some resetting of positions though based on today's spike, forcing price up further, particularly in the Asia session. Just a heads up.
Also this week in general has some more typhoons ahead. Nonfarm payrolls, etc., and the ton of other major events across nearly every pair this week. Use caution, be smart, think. And dont forget to take profits and get paid for what you spend so much time doing.Ignored
- | Joined Sep 2007 | Status: London | 187 Posts
Be like a post stamp! Stick to it until you get there!
- | Joined Sep 2007 | Status: London | 187 Posts
Be like a post stamp! Stick to it until you get there!