EURUSD --- SELL triggered for a test of the December 2018 Lows

The EURUSD bounce from 1.1290s has put in about 200 pips clearly on USD Dollar weakness across the board .
We can now bank that and take that fat profit off the table.
But now the question "Can EURUSD fundamentally continue to rally?" . My answer is "NO" because of the head winds
- US - CHINA Tariff talks
- BREXIT nightmare
- EURO Zone Economic growth is worse than initially thought even though US Growth is starting to show signs of slowing down
- Germany is technically in Recession while France & Italy getting worse

So how are going we going to support the EURUSD Rally going forward ? i think we SELL and aim for it to retest the lows 1.1290s

Comment:

Seems to me to be a Bull trap ? what do you think?. Whenever a EURUSD goes against all the fundamentals and Economic Data stats, we always have to question the rally if it overshoots.

If EURUSD goes above 1.1556 then cancel the SELL . we are currently overbought both on H4 & H1 timeframes on RSI .

If we assume that the rally will continue then we expect a DIP before we continue
then we take a small profit and close the position

TRADE:
SELL at 1.1503 -- 1.1530
Exit1 at 1.1457
Exit2 at 1.1401
Exit3 at 1.1378
Exit4 at 1. 1305

Comment:

USD Dollar is being DUMPED by the EURO Bulls like crazy since the London Open today . its as if every EURO Bull has gone Mad and forgotten the EU "BIG BOYS" Fundamentals and the EU Economic Data does not matter any more.

If you see Mr. US Dollar, Do one thing, just Sell USD and Buy EUR, anything else doesn't matter really.

If the EURUSD buying continues ( Well supported) or USD is being dumped , then we will have close our short position and reload again

Comment:

Something will have to give, The EURO Bulls are pushing ahead trying to blast the EURUSD through 1.1520 , They got rejected the first time but they are coming back or attempting again in Full force.

The Battle Royale = The Crazy EURO Bulls vs the Fundamental USD Bulls ( EURO Bears)

Let the Battle continue . This is going to be tough , get your glass of wine or bear and relax .

Comment:

if the EURO Bulls don't manage to blast through or are rejected around 1.1520 again , be very careful because the downward move might be or will be very brutal and sharp.

it looks like a Bull trap which is spring loaded.

Comment:

Italy and Germany are now technically in Recession , France and Spain are not that far from recession if the slowdown continues in EU

Comment:

let's take some profits off the table by adjusting EXIT1 to 1.1472

Comment:

USD-dynamics will drive the sentiment in the pair in the very near term, showing some upside potential in response to the now neutral stance from the Federal Reserve. However, fundamentals in the euro region are not something to write home about and this carries the potential to weigh on the single currency in the next months. Politics in Euroland will also be a factor to have in mind, with EU parliamentary elections coming up in May and investors closely following the social scenario in France and populist developments in Italy. -- By Pablo Piovano

Comment:

EURUSD is extremely volatile around 1.1440 to 1.1465 Band . No particular direction but seems to be working on STOPs within that band . My Bias is towards EURUSD dropping towards 1.1350s , EU Zone economies are struggling and Germany & Italy are technically in recession . You a lot of " Economic pundits " pushing the theory that USD dollar is going to weaken . I agree with that but for the time being there is no where to park the money except the USD . Let's see what the "BIG BOYS with BIG PANTS" will do

Comment:

Exit2 at 1.1401 Met -- Let's take that fat and juicy profit off the table and bank that. we are now left with a smal position to make a run for 1.1300s

Comment:

Exit3 has been met - Let's take that fat and juicy profit off the table and bank that. we are now left with 1 std Lot (Position) i.e a small position to make a run for 1.1305s. Feel free to close it now or go for the run towards 1.1300s -- its your call . i would probably close it and wait for a bounce before anything happens . There is still room to move towards the 2018 Lows but the retracement is getting some tired legs

Comment:

All out targets have been met . Exit the entire trade. Let's wait for a bounce to 1.1600s now .

At this point , i will take a long