MichaelBogoevski
Short

EURUSD Update: Pressure building for next downdraft

FX:EURUSD   Euro / U.S. Dollar
70 0 0
My favourite trades are those that commence with a fundamental idea and waiting for the technical picture to turn favourable. Many have been surprised by the resilience/weakness of the EUR/USD             .

The 127 looks like it is in check by like-minded participants from an extension commenced at A (pink).

I was surprised by the ferocity of the AB Leg (Red) post Greek positive news on Monday.

Perhaps people pre-empted repatriation of Euro             flows (can not quite explain this one last week).

In serious crises the country in question normally sees its currency rally (quite counter-intuitive).

New target of 1.09598 ( AB=CD Red)
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