US FOMC and 3rd interest Rate hike for 2018 is on Wednesday 26th September , 2018 .
EURUSD has been categorically rejected strongly twice in the 1.8000s and in both cases it has dropped to 1.1730s area. So now we are back at the same area of 1.1730s and NOW WHAT ?
With US Interest rate hike in the cards . i am thinking a Short (SELL) would be ideal even if the DXY (US Dollar Index ) does not move much
-- On 3-hour, 4-hour & Daily Charts charts ---- The RSI & CCI are not yet oversold and still have some room to move lower
-- We are back in the 1.1730s area again and have been rejected twice
-- FX analysts ( Speculators ) are all over the place . Some are EURUSD is going up to 1.1940 and some are it going down to test the 1.1508 Area
My idea:
OPTION 1:
very tight EURUSD SHORT (SELL )
Entry : 1.1738 to 1.1745
Exit: 1.1725 Area
OR:
Wait until it breaks below 1.1725 and confirmation is received and go short towards 1.1600s
OPTION 2: ( This is very risky because we have been rejected 2 times above 1.1800s )
EURUSD LONG ( BUY )
Entry : 1.1725 to 1.1738
Exit: 1.1800 Area
EURUSD has been categorically rejected strongly twice in the 1.8000s and in both cases it has dropped to 1.1730s area. So now we are back at the same area of 1.1730s and NOW WHAT ?
With US Interest rate hike in the cards . i am thinking a Short (SELL) would be ideal even if the DXY (US Dollar Index ) does not move much
-- On 3-hour, 4-hour & Daily Charts charts ---- The RSI & CCI are not yet oversold and still have some room to move lower
-- We are back in the 1.1730s area again and have been rejected twice
-- FX analysts ( Speculators ) are all over the place . Some are EURUSD is going up to 1.1940 and some are it going down to test the 1.1508 Area
My idea:
OPTION 1:
very tight EURUSD SHORT (SELL )
Entry : 1.1738 to 1.1745
Exit: 1.1725 Area
OR:
Wait until it breaks below 1.1725 and confirmation is received and go short towards 1.1600s
OPTION 2: ( This is very risky because we have been rejected 2 times above 1.1800s )
EURUSD LONG ( BUY )
Entry : 1.1725 to 1.1738
Exit: 1.1800 Area
Comment:
Aha!!!!!!, it seems
GBPUSD is dragging the EURUSD ( Kicking & Screaming ) and both are surpressing the DXY . its only the GBP & EUR that have gained strength against the USD Dollar today.
Or you can say EURUSD is dragging the GBPUSD. But they seem to be working together .
If you caught the tight long from 1.1733 to 1.1772 then that's a nice small profit
GBPUSD is dragging the EURUSD ( Kicking & Screaming ) and both are surpressing the DXY . its only the GBP & EUR that have gained strength against the USD Dollar today.
Or you can say EURUSD is dragging the GBPUSD. But they seem to be working together .
If you caught the tight long from 1.1733 to 1.1772 then that's a nice small profit
EURUSD Bulls did hang on Draghi's comments today but that collapsed as soon as Draghi's speech was done
Now even the EURO Bulls analysts themselves are not even sure where they want the EURUSD to go to.
Do you know ???