Majority of Trading view chat room is short.
Better long this beast.
50% profit booked.
Adding to my winners, NO RISK.
- 75% of longs closed.
Only shorts will be considered now.
Majority of Trading view chat room is short. "
That's been true for the last year https://www.dailyfx.com/sentiment
Are there any other reasons it should go up? On Thursday, I would have agreed, but the last time japan tried pulling rabbits out of its hat the USD went up and everything else went to hell. The Euro doesn't appear to be much of a funding currency anymore since the latest stock market tanking resulted in no Euro strength like it did in august. I'd be more comfortable with a Euro long if the stock market would resume its crash, but with japan pushing up off the lows and bad econ data being ignored, that doesn't seem likely. I'm wondering if your arrows are backwards... maybe we get a clearing of stops below 1.05 and then a rally about the time Yellen finally sees the obvious (around december after the elections).
I have taken my longs and my stops are now in profit. I am still running multiple shorts from the months before so either way... win or win, best risk:reward in the game.
Other then this i really have nothing else to say for EU its just boring right now, I will come back once we break out this temporary range.
The bullish case could be the Swiss supporting the EURCHF above 1.10 and traders not making much of the BOJ's move from 0.10 to -0.10 (and so far they don't seem to be). If there is capital flight from Japan, it may go just as much to the Euro as the USD, especially since the USD is expensive. It should be increasingly clear as time moves on that the fed is not going to hike, but the wild card is kamikaze Japan and what lengths they will go to hold up the stock market. If someone would put Japan on a leash, I would be mega-bullish EURUSD.