EURUSD -- please choose your poison !!! Short or Long
EURUSD , Oh EURUSD , Oh EURUSD now where do we go from here ? Looking at it from a Technical analysis point of view
1. we either break the Major resistance above 1.1074 area and enter the 1.1100 region. In this case it will indicate that the sentiment is starting to change and if EURO zone data comes in positive then we can say that we have put in a bottom at 1.0879 area for the time being.
2. We can drop to touch and confirm the 1.0879
3. We are still below the Daily SMA-100 and SMA-200 , which indicates we are still in a bearish trend and sentiment.
4. What are the " BIG BOYS" saying :
-- They are forecasting 1.0800 Level by December 2019 and also below 1.0800 Level by end of March 2019
-- They expect the conditions to start improving in Europe towards June next year 2020 unless something drastic happens
5. BREXIT Deal rally will be temporary for EURUSD but sustainable for GBPUSD while US-CHINA Deal might hit the Dollar hard if its a full deal but just a dent if its a partial deal
IMO:
i think i will wait and go short once everything settles down :
Condition for Entry: Wait until Volatility on BREXIT dies down and dust settles
Short-Term Entry Short : 1.1030 to 1.1099 Area
Short-Term Exit target: 1.0880
Duration of Trade : 0 to 3 months
1. we either break the Major resistance above 1.1074 area and enter the 1.1100 region. In this case it will indicate that the sentiment is starting to change and if EURO zone data comes in positive then we can say that we have put in a bottom at 1.0879 area for the time being.
2. We can drop to touch and confirm the 1.0879
3. We are still below the Daily SMA-100 and SMA-200 , which indicates we are still in a bearish trend and sentiment.
4. What are the " BIG BOYS" saying :
-- They are forecasting 1.0800 Level by December 2019 and also below 1.0800 Level by end of March 2019
-- They expect the conditions to start improving in Europe towards June next year 2020 unless something drastic happens
5. BREXIT Deal rally will be temporary for EURUSD but sustainable for GBPUSD while US-CHINA Deal might hit the Dollar hard if its a full deal but just a dent if its a partial deal
IMO:
i think i will wait and go short once everything settles down :
Condition for Entry: Wait until Volatility on BREXIT dies down and dust settles
Short-Term Entry Short : 1.1030 to 1.1099 Area
Short-Term Exit target: 1.0880
Duration of Trade : 0 to 3 months
Comment:
EURUSD is chewing through the Major resistance area to 1.1100 and before London Session . if it completes that then we are free for a bullish rally run to 1.1200 and beyond and please cancel any short EURUSD if you have any in play . we need to have it break it convincingly and continue to rally above 1.1100
Comment:
we broke through resistance and now we are at 1.1156.
We are in a bullish sentiment and a little overbought. The rally might stay
We are in a bullish sentiment and a little overbought. The rally might stay