FX:EURUSD Euro Fx/U.S. Dollar
... is what the hell this cross would like to do? Seems like nothing can push EUR lower, to give it a good 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 , but setup is still like . 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 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.