2 Scenarios for the Euro - Neutral to Bearish stance
Hi Traders,
Here is my simple analysis of the EUR/USD pair. Seeing there is a lot of exhaustion of bears over the last few days and volatility is contracting, which means we are due a pullback, given a positive vibe from the Debt Ceiling deal reached, means more USD to be printed out and therefore the value of the dollar will slightly contract over the next few days giving a relief rally for both the Euro and the Sterling.
If you are still short, be very careful the volume is decreasing on the shorts day by day, so there will be a lot of short covering over the next few days giving the Euro fuel to rise.
Follow the supply boxes and trade accordingly.
Here is my simple analysis of the EUR/USD pair. Seeing there is a lot of exhaustion of bears over the last few days and volatility is contracting, which means we are due a pullback, given a positive vibe from the Debt Ceiling deal reached, means more USD to be printed out and therefore the value of the dollar will slightly contract over the next few days giving a relief rally for both the Euro and the Sterling.
If you are still short, be very careful the volume is decreasing on the shorts day by day, so there will be a lot of short covering over the next few days giving the Euro fuel to rise.
Follow the supply boxes and trade accordingly.
Trade active:
Second supply box reached and there was a strong rejection at 1.06800 so decided to buy the pair, TP 1.07100, sl 1.06750.
Trade closed: target reached:
Target reached perfectly!