// For my own personal learning & experimental + retracing previous ideas...Trying oput P&L setting and Trade taking
EuRUSD seems to be in state of confusion.. FED is printing money that should weaken the USD but not really showing here (immediately)..,
We have seen the USD strengthening ever since June2008..
EUR was strongest on Nov 2009, Mar 2011, May 2014, Feb 2018 and now
We have now kind of broken that USD bull and making retestng... Starting of Jul 2020 ..
This, with the fact that we are touching 200 EMA on dailies, suggests to me that we are making a higher low on our way up on EURUSD.. ie. USD weakening..
So now we should keep the EURUSD above 1.164 to maintain the brakeout and be LONG on EURUSD.
The new 3 Trillion USD Stimulus would also most likely weaken the USD against EUR, so in that sense also LONG on EURUSD.
AND... This all would be totally in line also with a yearly DXY forecast looking from 1986. .. On yearlies, we were on our way to DXY channel lows touching area where EURUSD would have been under 1.00 but this was messed up by Covid-19.. I think there's a still chance for that while we would still be in yearly trend.
EuRUSD seems to be in state of confusion.. FED is printing money that should weaken the USD but not really showing here (immediately)..,
We have seen the USD strengthening ever since June2008..
EUR was strongest on Nov 2009, Mar 2011, May 2014, Feb 2018 and now
We have now kind of broken that USD bull and making retestng... Starting of Jul 2020 ..
This, with the fact that we are touching 200 EMA on dailies, suggests to me that we are making a higher low on our way up on EURUSD.. ie. USD weakening..
So now we should keep the EURUSD above 1.164 to maintain the brakeout and be LONG on EURUSD.
The new 3 Trillion USD Stimulus would also most likely weaken the USD against EUR, so in that sense also LONG on EURUSD.
AND... This all would be totally in line also with a yearly DXY forecast looking from 1986. .. On yearlies, we were on our way to DXY channel lows touching area where EURUSD would have been under 1.00 but this was messed up by Covid-19.. I think there's a still chance for that while we would still be in yearly trend.