We are going short on the EUR/USD with the target of 1.077 level, because the pair is overbought and will soon hit the resistance line above. We deduced the overbought condition from the price being near to the upper BB band. However, we should use low risk here because the 1W TF is green and gives us a counter-signal.
I have to agree on your direction but I don't trust Ballinger bands.
Alphamoney870
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why are you shorting a move that strong?
dianaelena27
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@Alphamoney870,because what's going up is going down also and because is matter of time when this euro frenzy it will make boom. In Europe the inflation is very high and the euro isn't anymore so powerful.
@dianaelena27 if inflation is high in the Eu it helps the euro??? the euro is ripping faces off and the dollar is making new lows.
dianaelena27
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@Alphamoney870, yes the inflation is high in Europe. In Finland is over 8%,..for the moment yes. Euro is high but the euro isn't growing in a healthy way.. In some point the money which are now on the market is need to be out6from. The market... In trading what is going up is going down also... There is no exception and if you believe Euro is gonna to go up for a long you are completely wrong... Dollar sells will stop sooner or later and then then Euro buys also..
dianaelena27
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@Alphamoney870, Eu can't pump money on the market for too long