EURUSD -- Downside Risk might be setting itself up

EURUSD -- Downside Risk might be setting itself up .

EURUSD might be consolidating to head lower. We have been bubbling up and down due to BREXIT and EU Data is very weak , The Global Economy is slowing down.

EU fundamentals have not changed since last month . So what has been keeping the EURUSD afloat ? BREXIT and some slight good news that ITALY might cave in on the Budget
but does that change anything ? The answer is NO .

There is high chance that we are going to Dip from here to test 1.1300 to 1.1320 again and possibly break it . EURUSD is riding the cocktails of GBPUSD and BREXIT for now

Comment:

WARNING: --- No Economic news but the US-CHINA Trade chatter and BREXIT talks are on the wire, ITALY budget too.

In less than 3 hours EURUSD has gone up 50 pips while US dollar Index DXY has collapsed completely like a stone . its a free fall for DXY. But the question is what's new ? we know about

1. US-CHINA Trade talks
2. ITALY Budget
3. BREXIT
4. EU Economic growth is slowing down

So nothing new that the market has not factored in .

For us to be sure to go Long , we need to break above 1.1500 . For now if you go long then be sure its not a "BULL TRAP"

Comment:

DXY collapse continues . EURUSD & GBPUSD are powering up due to the DXY collapse.

Comment:

You can jump in and catch a few pips but be very careful. Average daily range for EURUSD is about 50 pips in one direction but in just 3 hours EURUSD has covered 50 pips so either we continue the trend to 1.1500 area OR we collapse on EURUSD and DXY recovers . Choose your poison , please !!!!

EURUSD bulls seem to be taking advantage of DXY collapse and driving EURUSD bull trend

Comment:

Spectacular collapse of DXY:

EURUSD is at 1.1443 and climbing at this moment . DXY has collapsed like a stone from open at 96.68 to 96.38 ( 30 basis points ) in less than 3 hours.

Let's see if we can get to 1.1500 on this Relief Bull Rally

Comment:

Note: GBPUSD collapsed due to BREXIT and dragged EURUSD with it. Therefore we need to break below 1.1330 Area on the rising wedge to confirm that The EURUSD Bears are ready to tackle 1.1200 region