Forex Positive

EURUSD final wave of short squeeze

FX:EURUSD   Euro / U.S. Dollar
After the massive short squeeze in EURUSD on thursday, when ECB decided to disappoint the market without introducing stronger QE . On the short term technical level, there could be another final wave of short squeeze to 1.1100. The 1.1100 blue zone represents a significant price level. It is a strong support/resistance for the whole of year 2015 since Jan.

On the fundamental level, the story in EURUSD & Euro remains the same. The economy is weak, ECB is still continuing with QE . So on the longer term basis, EURUSD remains a fundamental short.

If EURUSD rallies further to this price zone, look to enter short.

Short EURUSD 1.1100-10
SL above 1.1150
TP 1.0800

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