Sforex

EURUSD: SELL the rally or Buy in dip ?

FX:EURUSD   Euro Fx/U.S. Dollar
246 0 0
I have two levels to watch:

- 1.1100 : the level ECB doesn't want EURUSD             advances.
- 1.0500: the level FED wants to hold.

ECB member said that market understood ECB 's message in a wrong way, and wrong pricing post meeting was what we saw.

Does the miracle finish ?

Hard to say.

The move of ERUSD on Thursday was the strongest move since 2009, many SHORT positions were wiped out, and traders as well as investors begin to re-establish EURUSD             position. BUY or SELL ?

I split EURUSD             chart into two zones called :

- Above 1.1100 is bullish zone : Blue zone
- Below 1.1100 is bearish zone : red zone

A advance above bearish zone is a signal for trading in bullish zone, and a bounce from 1.1100 is a chance to re-SELL EURUSD             .

I think E/U is not enough strength to advance above 1.1100

Hence,SELL the rally at 1.1100 is a good choice, some traders and commercial banks are positioning to 1.1500, but I think it's too dangerous.

I maintain pending SELL position at 1.1100, stop at 1.1200, profit at 1.0900

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