EUR can fall on the EUROZONE big troubles.

Hi Traders, this is my plan for this pair, if the all conditions will be met I will enter (or might not). Make sure you follow me all updates will be shared here from opening until the close of the trade. Don´t hesitate to comment with any questions and hit like for the support.

Reason: EUROZONE is in the big troubles, Italy 3rd biggest economy in the EU and 9 biggest in the world, are in the deep economical crisis and they requested EU for the support which was declined. This will affect EUR currency a lot. USD even the weak NFP data or unlimited QE will
not make it weak in the current world situation its reserve currency which will most likely strengthen in time like we face now. COT we can see a bit buying of the EUR however its still not enough to make a trend change.

Technical: Price is moving in the channel and its in the wave 5, I´m expecting it to reach the demand zone 1.045 might even go to the parity with USD

FX Hunter Strategy is based on mainly watching the big picture of overall world economy and dividing the FX pairs in to couple baskets.Following the volume of big players (COT by CFTC) and tick volume helps to see what the market movers are doing. Parallel channels, Supply / Demand and Market Profile are used to determine levels of interest for the trading. Slight usage of Elliot waves for the market structure.

Comment:

Placing the sell limit order

Trade active

Comment:

Back on the entry after the fake break