still thinking and aiming a short position on euro despite some technical commentary about some of my levels .
downstair movement on the euro as seen before on the usdjpy H4 frametime.
NB: this is my point of view, and not a signal or a recommandation .
i am bearish on this currency.
most traders will tell you to go long because, of the actual shutdown, because dollar is showing weakness signs, because technicaly the euro still go breath to go up even with the correction made today.
every trader follow his own way of thinking, of analysing price movement,etccccc.
why i am bearish ?
if you look at my chart the ...
see the chart.
the price slides out of the purple box which should trigger a long trade.
the 1.36 level hasnot been broke yet, so this may lead to a short correction until the blue up trendline .
1.3540 maybe 30 could be the final destination for this correction.
be very careful , the euro is gaining some yards with no related strong data.
Friday closing bell was very full of information about what would happen if the big bleu trend line was broken .
pre-market opening was noticed by a big gap almost 0.50% down and put the price under the first suppot 1 as mentioned in the chart.
it seems to have a bearich biais over that currency ,so if the price still traded unders the first support so we can ...
The Uj is stuck into the orange triangle between 99.11 and 98.30 but the global trend is still up . a break above 99.11 will lead the price to the next resistance 99.63 otherwise we go down toward 98.30. so this might be seen as trading range but a little bit hard to notice; so you know when to place sl if you think of shorting the dollar.
My take for tomorrow ...
The pink trend line works as a support ( strong one).
the yellow ones are the next targets and supports if the price falls again after some silly speech given by dr beny.
if the 97.92 brokes then the second yellow line will act as a target. elswhere we can see a normal wayback to 99 level.
the big up and down seen during this week is about the stop to let the place to a real up trend. big buyers were waiting for a better entry price arround 99. done. now the first target to come is the 100.55 then 101.45.