Kumowizard
Short

EURUSD - The big question: for how long is it a short?

FX:EURUSD   Euro Fx/U.S. Dollar
210 2 2
... is what the hell this cross would like to do? Seems like nothing can push EUR lower, to give it a good momentum finally. Yesterday with absolutely no news it spiked and probably stopped a lot of players who opened their shorts on the break. At least those guys are not short any more, which is less buying power for the future. I still have my stops at 1,3885 - 1,3905. Indicators got messed up, 4 Hrs DMI             crossed bullish , but Ichimoku setup is still like bearish . At these levels I still prefer keeping short exposure, as so far it looks like only a retest of the broken trendline (wedge) and the Kumo + 100 WMA (on 4 Hrs). I don't know how long we need to wait until momentum finally picks up on the sell side, as we can observe another important thing on the 4 Hrs time frame: the Senkou 'A' (orange line of the Kumo, which is the 52 period avg price) is flat, which very often attracts the price in. A flat Senkou 'A', or a flat Kumo means an equilibrium for the px             . Maybe EURUSD             has to remain 1,3830-60 choice for some time? :-) Anyway, I will move down all stops to 1,3885, and watch if we reach the 1,3680-1,3710 area any time soon. I very rarely do, but now I looked at 15 mins chart too: basically if it breaks below 1,3817 in early European session, then it will be ok to hold some more, but if it can stuck somehow above 1,3850, it will be very hard to justify shorts further. What's more, in the case of a spike up I think we will have a very annoying range and sideaway move ahead of us, which is not good for trend traders.
ECB officials are doing the job! I hope Draghi will add on later this afternoon.
Reply
For those who hold shorts with me: move stops down to 1,3865!
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener 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 Billing Sign Out