QuantitativeExhaustion

Cover Your Shorts, Exit Strategy and Reversal of Trade

FX:EURUSD   Euro Fx/U.S. Dollar
If you have been short EUR/USD             or buying FXE             puts, for this last move its time to scale out and take profits. Tomorrow morning we will have a volatile whip lash as the ECB is likely going to announce QE             . There have already been reports of leaking news concerning the size and scope of the QE             . Bloomberg has even mentioned a delayed start date, March 1st.

From the charts I'm reading I'm expecting a quick plunge as low as 1.12 with a rally that could go as high as 1.20. This is the relief rally many traders have been begging for. So take the bold action and go long. However, don't hold on thinking this is the start of a new long term bullish uptrend, we will eventually see parity and finally .80 EUR/USD             handle.
wealthwzrd
2 years ago
thank you for the notice
Reply
QuantitativeExhaustion PRO wealthwzrd
2 years ago
No problem.
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wealthwzrd QuantitativeExhaustion
2 years ago
How these policy and rate changes will affect the respective currency pairs is the most confusing part for me...and i was an economics major...
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QuantitativeExhaustion PRO wealthwzrd
2 years ago
Capital Risk and Currency is always confusing. When you see a dominate trend developing, you got stick with it. Now days, involves political decisions and central bank policy. So this is not economics, but the government heavy hand you've been warned about.
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Ansari
2 years ago
Hi many thank,s.
very nice
bottom of channel and 1.272 fib =1.1253
snapshot
+3 Reply
Nice Find! More support for a bottoming tomorrow.
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snapshot


Maybe some future support resistance levels. Not a Wolfe Wave Pattern by any measure, (not really a fan of that pattern) but that's what it sort of looks like so far.
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gunne821 QuantitativeExhaustion
2 years ago
Cheers JR, I've had the same idea here, been short since 1.2537, and I thought it was about time I took some profits...So you think we'll see 1.12 tomorrow?? Hard to imagine...For the long haul, I see the EUR as well beneath parity.
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QuantitativeExhaustion PRO gunne821
2 years ago
You played it very well. Profiting on the news seems to be consensus. See you on the way up
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gunne821 QuantitativeExhaustion
2 years ago
Thanks.My Dutch broker charges me 2.7%/year if I want to hold on US equities, so I rather bought USD than holding the Euro (debacle( and having to pay an extra 2.7% a year...Guess I'm not the only one giving the inflow in USD...
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QuantitativeExhaustion PRO gunne821
2 years ago
2.7% geeez that's a lot

Now you can short the dollar. That could be a trade worth taking.
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gunne821 QuantitativeExhaustion
2 years ago
I am just gonna get out of the trade, and wait for another entry point to short the Eur again. As I am living here, I really don't see a bright future for the EUR...Just never had a good feeling about it, it just doesn't make sense.Germany, Greece, the same currency?? What's that all about...
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QuantitativeExhaustion PRO gunne821
2 years ago
You're right. Good for Germany, not for anyone else.

Counter trade could garnish a nice pocket full of cash.
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gunne821 QuantitativeExhaustion
2 years ago
Thanks for the info. Keep up the good work. Looking forward to tomorrow...Should give some fireworks. I am off to bed now, It's getting late here, but I had to have my plan ready ;) Now I have.
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gunne821 QuantitativeExhaustion
2 years ago
Did that, but wayyyy too early it seems now. Exit at 1.15297. Nevertheless it was a nice ride...Hope it bounces strongly though...Did you go short the USD today, JR?
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QuantitativeExhaustion PRO gunne821
2 years ago
Not yet. Looks like a low in the Euro could be made overnight.
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gunne821 QuantitativeExhaustion
2 years ago
Still targetting 1.12 area? Didn't think EUR would dive this much...
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