Hello Traders,
Following some negative inflation data from Germany and further upcoming bad data from EU tomorrow
it would be surprising to see EU breaking this downward turn toward 1.19.
Any counter trend trade would be an option only if the green trendline was broken.
Until then there is no clear reason to buy eurusd.
Apart from the fact that the overall trend remains an uptrend (if you look at daily charts).
This is more of a short/medium term entry.
Any deviation from the original plot would invalidate the trade and should be cancelled promptly.
Trade safe. Trade well.
Thank you.
Following some negative inflation data from Germany and further upcoming bad data from EU tomorrow
it would be surprising to see EU breaking this downward turn toward 1.19.
Any counter trend trade would be an option only if the green trendline was broken.
Until then there is no clear reason to buy eurusd.
Apart from the fact that the overall trend remains an uptrend (if you look at daily charts).
This is more of a short/medium term entry.
Any deviation from the original plot would invalidate the trade and should be cancelled promptly.
Trade safe. Trade well.
Thank you.
Order cancelled:
Capitulation took place much faster than anticipated.
Euro didn't find support at previous level and plummeted rather quickly.
It would appear that this was a lost opportunity but if we entered short at the previous support that would be even more risky in terms of placing stop loss at a price that would be much more likely to get hit.
I hope you understand my concept of tactical trading tuesday.
For any questions don't hesitate to comment/contact.
Thank you
Euro didn't find support at previous level and plummeted rather quickly.
It would appear that this was a lost opportunity but if we entered short at the previous support that would be even more risky in terms of placing stop loss at a price that would be much more likely to get hit.
I hope you understand my concept of tactical trading tuesday.
For any questions don't hesitate to comment/contact.
Thank you