ridethepig

ridethepig | EUR Market Commentary 28.01.2021

Long
FOREXCOM:EURUSD   Euro / U.S. Dollar
πŸ“Œ ridethepig | EUR Market Commentary 28. 01 .2021

In this position, we have managed to build a solid floor at the 1.207x area and as widely expected Buyers fought like a lion to defend their jurisdiction. The ECB on the wires attempted to talk down the currency via threatening room for rate cuts, classic jawboning from Knot in attempt to provide shelter. They will not cut again and time to call bs; here actively buying dips in the euro - this charming position is proof of the wonderful beauty of technical analysis .


Looking back to the initial start of this move, it has taken a lot longer for the flow to play out than I would have liked, however, nothing has changed and there is no reason to be alarmed. If we lose the floor and breach 1.200x, then we KNOW we are WRONG and need to reassess the view. Fed artificial dollar devaluation is here to stay and a move back towards the top of the range is the path of least resistance.

Thanks as usual for keeping the feedback coming πŸ‘ or πŸ‘Ž
Trade closed: stop reached: ...and we finally broke down, Italian politics weighing heavy on the euro and dollar finding a safe haven bid.

We can re-open the flows later in the week.

Comments

U should update at the front page not at the bottom..a good trader can admit it althought he failed on her analysis..your gold analysis is failed too
+1 Reply
Your analysis is great
+1 Reply
Euro usd is a failed wave analysis, u dont want to update ?
Reply
ridethepig hensemselalu
Reply
failed..its still going down
Reply
Nice analysis. Hate your new avatar though, piglet was much more original and fancy.
Reply
Hello ridethepig,
That's an awesome breakdown you did there. I'm also bullish here and am waiting for the exact level to entry on a pullback:
Let me know what you think!
Cheers,
-Dale
Reply
Agree with you.
Reply
Great analysis! Matching exactly to my thoughts to 1.2284 area, as a finalization of W or Gartley pattern.
Reply
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