This is a busy week for EURUSD cause of lot of important data in both US and EZ are released. This is decisive week for the move of EURUSD next month. Uptrend or downtrend will be decided in this week.
I am sure that you will not take your eyes off the economic Calendar.
- IFO Report
- Germany Unemployment Change + Rate
- EZ Consumer Confident
- EZ Business Climate
- Industrial Confidence
- Services Sentiment
- Germany CPI
- Germany Harmonised Index of Consumer Prices
- EZ CPI
I still not count US economic data, if I count US economic data, you absolutely blow up your brain. With high , all levels have no meaning. It can be break any time. Stop loss and take profit must be harmonious. If levels are not stable, how can we open a trade ?. I didn’t gamble in forex. Prepare not Predict, not gamble is my slogan, and I don’t want to risk my money, so I have to consider carefully when I open any position.
Last week, on Thursday, EURUSD jumped 170 pips from 1.530 to 1.37. This could be explained by three main reasons:
- Withdrawing from EM trigger investors hold safe-haven Currencies such as Euro , Yen, Swiss Franc , and sell Loonies, Aussie, Kiwi.
- Current Account of EZ increase.
- Positive Flash PMI
And we should not ignore ECB President Draghi commnents in Davos forum. He was optimistic about EZ economy, and moreover, Germany continues to be shining star of EZ and carry entire EZ on his shoulders.
Look at Economic Calendar, I can see one thing:
- From Monday to Wednesday: US economic data dominate, and from Thursday to Friday, EZ economic data dominate.
I have firm faith that EZ economic data will be positive, and FED will not taper as well as mixed data. The complexity is diminished very much.
Hence, I can choose the trend of EURUSD will be uptrend.
With high market, has not much meaning, that’s not important.
Look at on the chart.
SMA50 is at 1.3625 level. This is also an important . This is a good level to place stop loss.
With a problem have many variations; we need to know variation as much as possible. I wait for confirmation. I wait after Monday, but most likely I will LONG EURUSD to 1.38 level.
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