Hi guys, thank you for the support! I will have this analysis out each weekend as well as daily updates throughout the week, if you guys like what I'm doing hit the "follow" button and you will get a notification each time I post a video or chart!
ok suppose you're right, i would like to know then what do you think of the COT report for eur. from a standard reading of it (commercials are skyrocketing, large investors plunging, dealer sky rocketing and asset starting its descent) it gives huge warnings about being long on eur though. what do you think ?
UnknownUnicorn266486
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@lapin_eliott, I only ever focus on Large Spec and DSI sentiment. When DSI is at extreme lows and Large Spec are liquidating its a time to begin looking for entries, of course, I don't think that's it I really think you need to understand whats happening around the world in terms of inflation/deflation and the position of the central bank. All of it confirms for me that you want to be long. The EU have higher wage growth & growth levels, PMI's still elevated, ESI data at cycle highs, German unemployment rate is at 3.5% and the yield curve is pricing in more growth in the EU than US yet the Federal Reserve are hiking and EU and still doing emergency levels of QE!
I would not like to be betting on a bearish Euro scenario here.
look4edge
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hey, nice work, keep posting excellent charts!
to me 120 retrace would be enough, lets see
UnknownUnicorn266486
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Again, awesome charts @look4edge, Im certainly leaning towards your broken path higher to 130! When I look deeper than just charts its hard for me to see a strong dollar outcome but I could certainly be wrong!
saalaah
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Rob, how do you mitigate negative swaps in your long term trades? Euro is on of the highest swaps traders have to pay. Maybe my position sizes are too small to over come swap payments?
UnknownUnicorn266486
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@saalaah, there is still a positive arbitrage. I look at it as opportunity cost!
@ROB.Reynolds, Ah yes I remember. I just entered at the 1.16 level
I, too, believe that the EUR will go bullish this coming week. The dollar's hawkish stance is slowly fading.
Also, I took the USDCAD short trade and it went pretty well for me even though my position size is relatively small.
Thanks for the consistent updates.
UnknownUnicorn266486
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@thejuveniletrader, awesome small is GOOD! A lot of small wins will make you rich, I think EURUSD is a great start. USDCAD might see one higher high before lower but I do expect it to roll over!