A break above the Andrew’s Pitchfork mid line would require a great effort … fuelled by a sharp rise in the German yields. Moreover, it would have to be a near 90 degree rally, which as of now looks difficult. ECB’s Visco just came out in favor of ‘expansive’ mon pol. Weekly chart shows – failure to hold above the trend line resistance of 1.1464.
It makes sense to sell EUR/USD around 1.1450-1.1460 for a downside target of 1.1380 with stops above 1.1490
It makes sense to sell EUR/USD around 1.1450-1.1460 for a downside target of 1.1380 with stops above 1.1490
Trade closed manually:
Booked out at 1.14