EURUSD do we go long or Short from here
EURUSD broke through 1.1400 to 1.1335 and then reversed today even with great US GDP Q3 numbers on the deck. We have touched 1.1413 so far .
Has anything changed on the outlook of the EURUSD ? Nothing really
-- ITALY Budget and Debt Drama is still going on
-- BREXIT Drama is still on
-- US Treasury Yields 10-Year pulled back to 3.08 and that's what was causing the EURUSD and other US dollar denominated currencies to rally today
Unless the above situations change then EURUSD is vulnerable . EURUSD needs a daily close above 1.1400 and above 200-Day SMA to confirm a clean change of trend to LONG( Bullish) from SHORT ( Bearish)
So is it LONG or SHORT ? please pick your trading medicine !!!!!!!
EURUSD broke through 1.1400 to 1.1335 and then reversed today even with great US GDP Q3 numbers on the deck. We have touched 1.1413 so far .
Has anything changed on the outlook of the EURUSD ? Nothing really
-- ITALY Budget and Debt Drama is still going on
-- BREXIT Drama is still on
-- US Treasury Yields 10-Year pulled back to 3.08 and that's what was causing the EURUSD and other US dollar denominated currencies to rally today
Unless the above situations change then EURUSD is vulnerable . EURUSD needs a daily close above 1.1400 and above 200-Day SMA to confirm a clean change of trend to LONG( Bullish) from SHORT ( Bearish)
So is it LONG or SHORT ? please pick your trading medicine !!!!!!!
Comment:
EUR futures: neutral bearish near term --
According to CME Group’s advanced figures for EUR futures markets, investors scaled back their open interest positions by more than 1K contracts on Friday from Thursday’s final 505,928 contracts. In addition, volume rose by nearly 11.5K contracts
According to CME Group’s advanced figures for EUR futures markets, investors scaled back their open interest positions by more than 1K contracts on Friday from Thursday’s final 505,928 contracts. In addition, volume rose by nearly 11.5K contracts
Not sure why this news would be EURUSD positive and US Dollar Negative
- US Dollar index went from 96.70 to 96.38 in less than 1 hour
- EURUSD went from 1.1360 to 1.1415 at he same time. Unless we are dreaming , why would that be positive to EURUSD.
Either the EURUSD Bulls are setting up a trap or i am missing some fundamental news that is causing the US Dollar to immediately collapse . That's a very strong collapse if no other news exist.