chartwatchers
Long

Possible Daily Cycle Low in EurUsd

FX_IDC:EURUSD   Euro / U.S. Dollar
60 0 9
A possible daily cycle low was printed in EurUsd             yesterday.
I we could close significantly today above 1.1043 ( price goes above 1.1043 and stays there )I will open a long position.
Stop goes below the DCL (1.0957). The only thing makes me nervous is the MACD that should have crossed over.. But that may come later.

We might be testing and break above the October and August highs.

I'm not a big fan of stops. I use mental stops only. I want to see when price goes below my stop and stays there...
For mental stops price must be checked every 15 mins or every 1 hour.

Time to give up the strong dollar idea. The FED printed a lot of money during the last few years. A promise of the rate hikes will not be enough for a strong buck forever. Every nation are trying to weaken its currency to make the export stronger.
Any time Draghi opens his mouth the Euro             falls 100-150 points...
USA must join the club also. And they need inflation now...

The weak dollar could help the oil             to rise which is very important for most of the G8. Nobody wants deflation...
And the weak dollar could give a final push to gold             which is getting late in its intermediate cycle.
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