Carl_G
Short

EURUSD FORECAST

FX:EURUSD   Euro Fx/U.S. Dollar
197 1 7
9 months ago
So, EUR/USD             the worlds most traded pair, where is it heading?
The chart above represent a possible outcome of the current market as USD is expected to gain a lot more than it already have during the course of this year, and probably the next year too. Question is, where is the ideal spot to get in on this upcoming massive move to the downside? Before adding further long-term position I would personally wait for the 1.150 yearly resistance to get tested, any close above would indicate that EUR is heading higher before dropping further down in to the Mariana Trench. However this seems very unlikely (but not impossible) in regards to the correlation with gold             . A close below $1179 in gold             would confirm that USD is heading higher and that gold             will reach lower lows, lower than $1000 to be more precise. Both gold             and EUR/USD             is currently somewhat close to their primary MIDAS resistance curves and a clear decisive bearish reaction to these curves would indicate that the bears are taking back control. Once a bearish reaction have been qualified in form of a clear strong close below the T-Line (on the daily time frame or even better, the weekly) the risk of a bullish move dramatically decreases so it is safe to say that as long as price is trading below the T-Line and most importantly the R1 curve = stay short. Why the T-Line? The T-Line (or Trigger Line) is the 8 EMA which is the most accurate EMA when it comes to capturing the most CURRENT trend in the market, a clear decisive break of the T-Line would indicate a change in investor sentiment. A clear close above the R1 curve together with a clear close above the yearly resistance and you want to be out of the trade faster than a young man is climbing out of the window when her dad opens the door and finds out that he have been sleeping with his daughter.
9 months ago
Comment: https://www.armstrongeconomics.com/markets-by-sector/foreign-exchange/euro/euro-near-collapse/
MIDAS Trading Tools for MT4 is available to download at https://www.mql5.com/en/market/product/17546#

Related Ideas

Carl_G
9 months ago
snapshot
+1 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