The rally off 1.1725 I was seeking yesterday was much like the Trump backflips this week - too little, too late! That it came at all, after UK Session caned the Euro was a Bullish sign for my money.
For seven of the last eight weeks, sellers have been trying their socks off to sink EUR/USD below 1.1600 and they have failed, despite the pair trading below that level, for much of the time. UK Session did its best to buck the trend yesterday as spirited selling realised 1.1575 before proceedings turned around and set about doing what I was anticipating would occur much earlier. With only today's trading to go, EUR/USD looks likely to repeat the seven weekly dose and close above 1.1600. As it IS week's end, its time to polish the old crystal ball and take a look into EUR/USD's medium term future. Hocus pocus, coming into focus........I see a rally to 1.2000 - maybe 1.2070, thereby forming a right shoulder that will shrug the Bulls off, sending EUR/USD over the waterfall which pools around 1.1500.
So today - I'm seeking buying mates to help me carry this pair to 1.1800 - any takers?
Of course we must always remember that to Make some Dollars - our trading decisions need to Make Sense!
Ohhhhh - you haven't FOLLOWED us yet? Never mind - you've got the whole weekend to fix it!
Have a great weekend.
For seven of the last eight weeks, sellers have been trying their socks off to sink EUR/USD below 1.1600 and they have failed, despite the pair trading below that level, for much of the time. UK Session did its best to buck the trend yesterday as spirited selling realised 1.1575 before proceedings turned around and set about doing what I was anticipating would occur much earlier. With only today's trading to go, EUR/USD looks likely to repeat the seven weekly dose and close above 1.1600. As it IS week's end, its time to polish the old crystal ball and take a look into EUR/USD's medium term future. Hocus pocus, coming into focus........I see a rally to 1.2000 - maybe 1.2070, thereby forming a right shoulder that will shrug the Bulls off, sending EUR/USD over the waterfall which pools around 1.1500.
So today - I'm seeking buying mates to help me carry this pair to 1.1800 - any takers?
Of course we must always remember that to Make some Dollars - our trading decisions need to Make Sense!
Ohhhhh - you haven't FOLLOWED us yet? Never mind - you've got the whole weekend to fix it!
Have a great weekend.