IDEA 19: EUR/USD approaching support
Hi traders. I exited my EUR/USD short positions for a modest profit. The price is currently touching the the 7 and 200 MA's at 1.0826/4 with the 10 and 100 MA's just below at 1.0811/12.
While I am still bearish EUR/USD, there won't be any definitive outcome until USD GDP and PCE have printed and the finale for the week, EUR CPI.
I am considering going long between 1.0826-1.0810 with a very tight stop.
However, extreme caution is warranted. i believe this week may set expectations until the next FOMC and ECB meetings.
While I am still bearish EUR/USD, there won't be any definitive outcome until USD GDP and PCE have printed and the finale for the week, EUR CPI.
I am considering going long between 1.0826-1.0810 with a very tight stop.
However, extreme caution is warranted. i believe this week may set expectations until the next FOMC and ECB meetings.
Comment:
I am long at 1.0818 with a 11 pip stop.