I'd be lying if I said I was confident in the direction of this pair. I'm personally looking for a bearish move but with the strength of the Euro i'm just not sure, keep an eye on this one. Big opportunity either way!
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What's everyone's thoughts on this pair, I'm thinking we might see a break of the trend line.
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I'm going long once we get a full body close above the trend line, happy trading everybody!
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zarar
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U were right.
ashddylan
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@zarar, just follow the price action. As a retail trader, you are a tiny boat in a large, LARGE ocean, no matter how big your capital is. Take what the market gives you and move on. The market can change it's momentum in an instant so it's wise not to force your idea on it, the market can do anything. My recent GBP/USD chart turned bearish pretty quickly but I still caught the down move and profited, because I understood the market had changed its sentiment.
zarar
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Keep us updated.
ashddylan
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@zarar, I'm going for a bullish move, Euro is incredibly strong at the minute, there's a lot of bullish momentum for the currency and it would be unwise to go against it.