EURUSD: Possible monthly downtrend continuation spotted

FX:EURUSD   Euro / U.S. Dollar
Let's enter short here, add on pullbacks if any.

Risk 1% max.

Good luck!

Ivan Labrie.

(I'll update with more information)

Brexit key level is gone, we're above the 2-month mode in USDEUR.

RgMov trend turned up really sharply.
Trade closed manually: I covered and flipped long, stop at today's open.
Last comment contradict the first one. Why enter short on RgMov up?

In this case, I think the USDEUR chart readings are more accurate. I'm seeing a rapid rally in USDJPY, normally, if we have money flowing into the US (now due to fears of Europe's collapse), we can expect leveraged bets by foreigners to increase, thus getting JPY and EUR (maybe GBP) loans, to finance long positions in US treasuries and stocks.
xiiimik IvanLabrie
Did not pay attention that it was USDEUR not EURUSD, sorry. Yes, I need to have an institutional experience, working on that. Thanks!
+1 Reply
I think it's worth a shot...my oil long is quite sizeable, so I want to have some diversification from 'dollar shorts'.
1.08 is a strong support zone (weekly chart). It should definitely be one of the target zones if you are going to trade EURUSD lower. I kind of think that it has a potential for another short term bullish move in it. Good luck
IvanLabrie themarketzone
I was under that impression too, but I'll short it for now.
Tomorrow should make this fail, or accelerate further, but judging by USDJPY, metals, bonds, looks like yields are increasing...Also makes me think we're seeing money flowing into the US, in the form of leveraged bets, which is what's driving USDJPY up, while stocks don't fall, or go up.
Thanks for the comments, cheers!
+1 Reply
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