The bigger the picture the clearer EURUSD looks -- SELL
This week EURUSD has been on a roller coster after ECB Interest rate cut and QE start
Shot up to 1.0967 then Dropped to touch the 1.0926 Lows and then spiked up to 1.0979 before finishing it off at above 1.1110.
Now that the Speculators have baked their cake and eaten it too after ECB Dance , Have the EURO Zone Fundamentals changed ? Answer is NO, infact things are getting worse . That is the question that the Big Boys( Hedge Funds, Banks, Sovereigns) are asking .
In my own Opinion , i think we fade the current EURUSD rally ( which is currently topped at 1.1110 ) with a SELL towards testing and validating the multi-year low at 1.0926
Expected Trade: SELL
Entry Range: 1.1110 to 1.1070
Exit Range : 1.0960 to 1.0926
Probability of success: High if EURUSD fails to hold 1.1100 handle at the close of this week . The "BIG BOYS" must reposition into Net Long EURUSD in order for the Price Trend to change to EURUSD long but at the moment they are Net Short EURUSD with an crack at 1.0800 Handle in 0-3 months ( September to December 2019 )
Shot up to 1.0967 then Dropped to touch the 1.0926 Lows and then spiked up to 1.0979 before finishing it off at above 1.1110.
Now that the Speculators have baked their cake and eaten it too after ECB Dance , Have the EURO Zone Fundamentals changed ? Answer is NO, infact things are getting worse . That is the question that the Big Boys( Hedge Funds, Banks, Sovereigns) are asking .
In my own Opinion , i think we fade the current EURUSD rally ( which is currently topped at 1.1110 ) with a SELL towards testing and validating the multi-year low at 1.0926
Expected Trade: SELL
Entry Range: 1.1110 to 1.1070
Exit Range : 1.0960 to 1.0926
Probability of success: High if EURUSD fails to hold 1.1100 handle at the close of this week . The "BIG BOYS" must reposition into Net Long EURUSD in order for the Price Trend to change to EURUSD long but at the moment they are Net Short EURUSD with an crack at 1.0800 Handle in 0-3 months ( September to December 2019 )
Short EURUSD and Buy DXY at this level . We are heading to test the bottom at 1.0926 before any meaningful rally from EURUSD
That's what the BIG BOYS are doing