Let's look at the really big picture again on the EUR/USD- the MONTHLY chart (log scale).
Note: this is of course NOT suitable for trading. Beware.
Usage:
- protecting your savings (by going into USD)
- determining the overall trend (which pressure prevails, when going down to lower time frames?)
- as well as determining important support & resistance levels we might otherwise forget about.
Concluding: continued downside pressure is what you'd be looking for,, the current frenzy in EURUSD is NOT changing that at all.
When trading the shorter swings, positions to the downside should be taken around 1.12 / 1.19 (if it ever gets that far). I am convinced the latter level won't be breached after this Fed day, setting us up for the next long term leg down towards parity. By then.... a positive RSI divergence might be giving a screaming buy - but we're far from that.
FYI: I've been pulling my EUR assets into USD assets. Long term, I mean - not relating to trading. This is not going to end well in the long run...
Note: this is of course NOT suitable for trading. Beware.
Usage:
- protecting your savings (by going into USD)
- determining the overall trend (which pressure prevails, when going down to lower time frames?)
- as well as determining important support & resistance levels we might otherwise forget about.
Concluding: continued downside pressure is what you'd be looking for,, the current frenzy in EURUSD is NOT changing that at all.
When trading the shorter swings, positions to the downside should be taken around 1.12 / 1.19 (if it ever gets that far). I am convinced the latter level won't be breached after this Fed day, setting us up for the next long term leg down towards parity. By then.... a positive RSI divergence might be giving a screaming buy - but we're far from that.
FYI: I've been pulling my EUR assets into USD assets. Long term, I mean - not relating to trading. This is not going to end well in the long run...
