After a week of robust growth for the currency, ECB president, Mario Draghi commented on Saturday that "a further strengthening of the exchange rate would require further stimulus." Draghi has warned investors of the possibility of quantitative easing for months now, yet the ECB’s comments have remained unconvincing, until now. The directness of Draghi’s remarks over the weekend does appear to have some some investors accepting the ECB’s claim.
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This is an update on our EURUSD short. We shorted eurusd at 13880 couple of days back and took some profit, Now planning to short again. No dooms day scenario here as we still think this pair has potential to hit 142 later, but for now We are short. If you don't get activation link in your inbox then please check your junk folder and add us into your safe list.
for me. price is not showing clear sign. bellow 1.38 i will enter short with tight SL at 1.3850 and above 1.3850 again I will buy EU . Osc. also doesn't confirm selling . maybe tomorrow there will be better signs. in case of downward continuation will consider ABCD targets for medium term positions.
I did an extensive analysis of small patterns of trends and their targets, and is surprising that 100% of the time the price reach is target before turning or change direction, have a look yourselfs... so if that is true WE HAVE TO SEE EURUSD at 1,3950 for the last time before turning down really hard... (in line with fundamentals) that's why eurusd is so resilient and nobody understands why, taking into account the last Europe data and rhetoric compare to the US data.
The target of the last wedge pattern in blue was not met for now, so that needs to happen... before thinking of shorting the euro!
I wait for you´re coments, regards! I am putting a BIG sell order at 1,3945
“It is not so important to be right, but how to make money when you are right.” – Ivan Hoff
I remember what happened at one interesting trading conference I attended about 5 months ago. It was an interesting conference indeed. At one stage, the moderator showed us a EURUSD chart (whose dominant trend was bullish, but the short-term trend was bearish) and asked us this question:
Where do you think the price would go next?
There was silence in the hall. Predicting the future is a great challenge; plus it’s senseless to talk about the future price action with an utmost certainty. A few traders stood up and tried to give their opinions. I later stood up, took the microphone and said that two things could happen at that juncture: the price could turn in favor of the dominant trend which would continue OR the short-term bearish correction could actually be the beginning of a strong bearish outlook. Was I wrong?
In overnight trading, EURUSD has retained its bid tone but the key near-resistance on the upside is yet to be taken. We are continuing to prepare for an upside range expansion in today’s trading as long as the key support area just below the 1.38 mark continues to hold.
US Federal Reserve chief Janet Yellen maintains optimism, the UK's jobless rate pushes sterling higher and the Bank of Canada remains neutral on rates.
GBP rushed higher on strong US data, and the USD recovered a bit after strong March production data. However, trading ranges remain extremely compressed as we head into a long weekend.
Bought 100,000 EURUSD FX Spot @ 1.38139
