Today I was closely watching EURO
and after the initial drop, we had a fast up move but then a very sharp drop (see the bars in the box). There is a weakness in Euro
, which I cannot define. I was hoping a strong move to 1.15-1.17, but it may not happen very soon. As this example shows, your convictions aside, you have to constantly watch the market mood and I see the market mood favoring USD. I may be wrong but the sharp hourly drop, violating the trend (violet line) is not good for EURO
(for the short term). Keep your guards. Good trades.