Forex Positive

EURUSD final wave of short squeeze

FX:EURUSD   Euro Fx/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

Twitter @ForexPositive
Ideas Scripts Chart
United States
United Kingdom
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out