TrevaughnSmith
Short

QE + Stronger Dollar + Geo-Political Tensions = Bull Hunt

FX:EURUSD   Euro Fx/U.S. Dollar
66 2 3
My thoughts on the $Euro chart.

Look for a nice low risk spot on the intra-day chart to short and then scalp/trade around that position, building on the core position once the momentum is on my side.

If you look at the 4hr chart, It looks to be forming a nice bearish flag . If the flag completes I'm looking to take the trade when other technical factors align in my favor.

Macro Analysis as given by Mercenary Trader-->

"Wednesday’s reaction spike in the dollar, particularly versus the euro             , looks to have been mostly panicked short covering (and “five-minute-macro” types getting hosed). The move has been reversed in 24 hours as of this writing… and the reasons why are not at hard to understand. The idea that the euro             should strengthen against the greenback here is completely laughable. The situation in Europe, for any trader who bothers to check, is still going to hell in a handbasket: At last word Greek yields were again spiking, new talk of Grexit in the air, as testy relations between Greece and Germany start to unravel. And the sixteen-week-reprieve is not even up yet! Many a US multinational corporate treasurer, meanwhile, is desperate to close out his euro-denominated cash balance (due to mounting forex losses that are reported in dollars): The bulk of euro             selling is not driven by traders here."

If it goes 1.09190 area I'm looking to sell it back down to1.07250 area depending on the price action             .

Patience is key to this game
Be careful - the BIG players have been accumulating EUR for a while. They don't believe the Eurozone is falling apart as is being reported (misinformation dissemination?). When the big boys are through accumulating, then the EUR will have it's day (or maybe year).
I too am looking to go short, but I think the setup will happen between 1.12 and 1.13 - then a ride down to parity:
The case for the continued downtrend in EUR/USD...
Reply
Agreed
Reply
United States
United Kingdom
India
Deutschland
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out