EU Growth is in huge Turmoil. Trying to talk the EURO is not working for Draghi and company . At some point you will have to pay the fiddler on the roof or the piper. so for now let's take the Target 1 profit off the table
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Let's wait and reload again .
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we are now back into the Long trigger zone anywhere from 1.1200 - 1.1280 , let's time the bottom of that range when we see stalling in price action. The USDX is rallying which implies EURUSD still has room to drop further to around 1.1205 Area currently as of this update its at 1.1249 and dropping like a stone . EU Zone Economies are starting to enter recession so we need to be extra careful with our long. From here, we are looking for an Oversold bounce not a long -term trend yet.
Wait for the EURUSD to stall since EURO Bears are in total control at the moment. Any Short at this oversold point has a high risk compared to a stall and then a long . we expect a bounce , then after that we can see if we get follow through or not
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EURUSD is still being Sold very aggressively and EU Zone data is getting even worse. So lets wait or cancel our long until EURUSD downfall stalls. You can enter a Short position but please understand the Risk reward ratio in this case
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its relentless USDX climb and EURUSD Great Downfall, EURUSD just tumbled almost 30 pips in less than 30 mins during the London Open . The EURUSD bears ( USDX Bulls) are in Control at the moment