Decision time for the Euro
Zaktualizowano
The EURUSD is at a decision point, I see this as the fourth retest of the bottom of the ascending channel which it has ben ranging in for the last month. Wait for a break and retest for confirmation short - probable 3-4R target with the potential for retest of the weekly support at 1.135-1.140 giving >9R
Trade what you see, not what you feel
Trade what you see, not what you feel
Uwaga
We had the break of the channel, now let's wait to see if the retest of the zone holds - or is this a faker?Uwaga
Uwaga
This idea is not yet dead for me. There was a break of the zone followed by a retest and then, on news from the ECB yesterday, we saw a nice spike that took out some short stop losses and provided liquidity - caution is still needed as the market has been net long EUR by more than 4 to 1 (commitment of traders) since early August. If it starts to move down there are still a lot of long positions to liquidate so, if it does go, then the short stops could see it accelerate quickly...
I'll start to build a position now
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