I might be alone here but I can't imagine going anything other shorting EURUSD, any squeezes higher should be nice entries to sell the rallies.
There's a lot of fundamental reasons behind why I think the EURO is headed down in a major way, blog posts coming on that, for the mean time google it! ;)
To be clear, I want to short any confirmation that it's headed lower. For now I'm looking for 1.0600-50 for areas to short. I'm going to get an aggressive trend line and sell any breaks, I don't expect a move much above 1.0700.
ENTRY details: entries between 1.0600 and 1.0650 (looking for this area + trend line break lower for entry)
STOPS: above highs which will be at/around 1.0700 area
TARGET: 1.0350 AND Parity
Trade active
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this pair gave us a push higher and I tightened my trend line set up a bit, it broke out lower last night and is creating another opportunity to enter short. I'm still targeting the weekly pivot at least and the range lows,
Here's a chart:
Trade active
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Very nice movement, everyone should be profit at least 150 pips by now. Weekly pivot hit, still looking for 1.0350 lows for some reaction, ultimately parity (1.00) is the next big target. Move stops into profit and let this ride on down.
Trade closed manually
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Stops were moved into profit as we reached the first target (weekly pivot point at 1.0500) taken out in profit with the pull back, see next post for latest eurusd trade idea