EURUSD -- LONG TERM HORIZONTAL SUPPORT AT 1.1425-1.1500-ISH
Unfortunately for me I guess, I don't trade spot forex anymore, but I do keep an eye on the majors, particularly EURUSD, because I can trade that using options via FXE, the EURUSD proxy.
I have traded FXE a total of five times this year, but it's always been about selling into strength; given Fed tightening and ECB easing, it's always been short with short call credit spreads in FXE when above EURUSD 1.14-ish.
Were I to still be trading forex, I would look to initiate short positions between 1.1425 and 1.1500, targeting 1.10 to the downside ... .
I have traded FXE a total of five times this year, but it's always been about selling into strength; given Fed tightening and ECB easing, it's always been short with short call credit spreads in FXE when above EURUSD 1.14-ish.
Were I to still be trading forex, I would look to initiate short positions between 1.1425 and 1.1500, targeting 1.10 to the downside ... .
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