DislikedAlways nice to return in the confidence T1 at 1.565 & T2 at 1.563 been reached and TP been collected...
See there's a healthy discussion going on with a complete Bulls team scratching heads...why..why..why..doesn't it retrace?
I'm for sure not the almighty who knows it all...but I do have an economical background, combined with many years of both stock & forex experience.
I've already explained in previous posts why imo EUR didn't break 1.6 again..technically it could have with ease...
Now it does not retrace at normal technical expectation levels...makes you think doesn't it...
I'm to tired today to go into full detail...but here's something to think about..
This correctional move is made in consensus..both USA & Europe need to stabilize the EUR & USD..it has mutual benefits.
Its backed up worldwide by central banks including Asia
Its backed up by large investment & hedge funds
If you think its a coincidence Oil has dropped (corrected) so much...you live in a dream world..imo..
Even the DJI dropping today...is "forgiven"...
Finally ask yourself the question...who moves the markets and sets directions...once you figure that one out...the total picture might become a lot more clear...
Still bearish...I'll post my arguments tomorrow at London Open
As always Just my 2 cents...Ignored
I think EU should enter upper 1.6 when dollar sell-off resume. They should follow the technical history.. They are just trying to limit more upside moentum when dollar sell off starts again.. you know what i'm talking about