Dear traders, I see technical and fundamental possibility of EUR going lower. On weekly basis we did not go past previous week high meaning that we made new LH, that means trend direction is still down. Also wave count is signaling me, that we are making at least double Zig-Zag correction.
Fundamentally speaking I believe we won't get any deal between China and US, although this is currently mostly already price in with more tarifs beginning of next year. Soo, if tensions do not escalate we will get more or less muted response from the market. Secondly I believe that although recent fundamental data was not good for nether of them, US has and edge in interest rate potential that will support dollar at least till year end, probably also well into the next year.
Idea will be updated in coming week!
Although I have already entered sell (1.13650), I intended to sell some more.
Already entered at sell price 1.13650
SL: above the top located at 1.14100 or as decided based on price action!
Good entry point based on Fib levels for more selling are between: 1.13500 and 1.13700 but only if it starts making flag on 15 min or 1h time frame! Will try to give guidance.
Fundamentally speaking I believe we won't get any deal between China and US, although this is currently mostly already price in with more tarifs beginning of next year. Soo, if tensions do not escalate we will get more or less muted response from the market. Secondly I believe that although recent fundamental data was not good for nether of them, US has and edge in interest rate potential that will support dollar at least till year end, probably also well into the next year.
Idea will be updated in coming week!
Although I have already entered sell (1.13650), I intended to sell some more.
Already entered at sell price 1.13650
SL: above the top located at 1.14100 or as decided based on price action!
Good entry point based on Fib levels for more selling are between: 1.13500 and 1.13700 but only if it starts making flag on 15 min or 1h time frame! Will try to give guidance.
Trade active
Comment:
G20 meeting ending with no breakthrough, I believe that same will go with US-China dinner. Honestly I do not anticipate solution in next 2 years and more.
Comment:
We can read that peace was achieved for the upcoming 90 days. Depends how a market will react to this news, although I think that reaction can be muted.
I am expecting calm opening with the formation of a flag for continuation lower. Will update the idea when things become clearer.
I am expecting calm opening with the formation of a flag for continuation lower. Will update the idea when things become clearer.
Comment:
Very corrective opening, look for sell. I will try to wait till around 1.137.
Comment:
Sold some more
Comment:
Hold open positions
Comment:
Top in place, watch for more sell
Comment:
Good to sell more
Comment:
Sold more
Comment:
The new high is wave ii, we got a bit more extension than was anticipated. Anyway, hope you managed to sell some more near tops and that you have left opened positions. If the count is correct we have now entered wave iii.
Comment:
Expecting more downside
Comment:
Hi, I am still in trade, it seams like we had a bit longer corrective wave II. Waiting for more downside
Trade closed: target reached:
Closed at 1.129
