FX:EURUSD   Euro Fx/U.S. Dollar
360 2 7
I don't like the structure for the Euro             at the moment. For my previous post and context see below:
EURUSD according to plan, follow up

However short term I will adjust when necessary. Have a look at my view for the dollar index             for context and my short term bias.
Dollar index and FOMC, trade plan

I will monitor both instruments but I like to see a reversal for a buy of the EURUSD             and sell of the Dollar index             . Dollar index             might be clearer in terms of structure since we already saw a bearish impulse and only need to wait for the confirmation of this current price action to be a consolidation.

EURUSD             however is moving lower relatively strong and if we see it start moving sideways we have to keep in mind that this most likely will result in a bearish continuation. I will therefore update this pair once we see a possible reversal or consolidation. Nevertheless I like to have a trade plan for both bullish and bearish price action.


www. facebook             .com/timstuyts

Comment: Yesterday I mentioned that I didn't like the structure and that made me conservative. The strong move lower was erased very fast and price is back above the key zone again (blue dotted lines). I will be looking for a bullish continuation. If it moves lower from here I let it go and will re-evaluate.
Have you noticed that the price has broken down the daily trendline since December? Sir.
TimStuyts fOREXeCHO
If we see a daily break (daily candle) that might be the first clue for more bearish price action. I was looking for a deeper correction this morning which didn't get activated. However only if we break lower in an impulse (which we are seeing right now) and this will be followed by a consolidation the break actually make sense. I like to see that consolidation for a potential sell trade.
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