EURUSD in turmoil mode

EURUSD in turmoil mode and continues to tumble . Currently at 1.1287. Are we heading to test 1.1220 Area again towards the year end. DXY is testing the monthly Highs .

Oh EURUSD !!! where do we go from here ?


EURUSD Long from ffrom this large area of 1.1220/85 seems to be a good option with exit in the 1.1350 area . What do you think ?

Comment:

We have gone up and down through this area . We are now back at the top of the range 1.1220 /1.1400 . The question is where next ?

EU economy is slowing down faster than expected . China & EM Economies have slowed down considerably . US Economy is starting to slow down due to effects of Global Economy slowing down and TARIFFs War. If that's the case , we expect the USDX Index ( DXY ) to continue to rise to above 98 . Which means that we might go to retest 1.1220 Low again on EURUSD.

For EURUSD, we will have our eyes on

1. BREXIT talsk
2. ITALY Budget talks
3. EU Economy slowing down
4. US Fed Interest Rate hike on Wednesday

Comment:

WARNING: Watch out , Watch out ------EURUSD "Bull TRAP" being set .

Comment:

At the start of EURUSD London FX Session -- 3:00 am EST (New York time currently )

Comment:

At this moment: 3:00 am EST(New York Time) -- DXY is slightly weaker across the board by may be 2 to 8 pips but not by much. The movement currently in EURUSD is being caused by GBPUSD which is up against USD by about 26 pips . It is going to be volatile in the next few days since most companies, Hedge Funds, and Trading houses are closing the books for the Year 2018 . So expect volatility in most currencies

Comment:

DXY is being sold violently by a few Speculators in the market at the moment on the GBPUSD side . Let's see 2 hour after London opens what's the status and then we can position ourselves accordingly on EURUSD

Comment:

EURUSD SHORT is possible at this levels .

EU Economies are weakening at the moment. EU Economic experts have been trying to talk up the EURO and that has encouraged the EURUSD Bulls but that does not change the DATA we have got from EU indicating the Economies around the EUROZONE are weakening.

For now ,
Buy any Relief rally and Sell the DownTrend until we break 1.1520