BombayBulls

EUR/USD - Show Me The Money Phase - 6/10/2016

FX:EURUSD   Euro / U.S. Dollar
37 0 3
Is EUR/USD             failing us on our dollar selling mantra? Who cares ! We are not wedded to our opinions. If Euro             don't want to go up then we are not going to force our opinion on it and trade it from long side. Such a soggy price action suggests, it simply wants to go lower. So then short it? Nope, not yet. Currently it is in 'Show me the money' kind of phase where it has to prove that it has what it takes to hold the support level and jump. We quit our remaining long EUR/USD             position near 1.1250 Because that was the line in send. Currently we are square and waiting for the pulse from Euro             on either side.
For today, trades we are looking at are,
1 ) Short EUR/USD             near 1.1350
2) Long EUR/USD             near 1.1250 ( but we will be quick to offload if price action shows hesitation )
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