Hi guys,
Most folks are forecasting a Bearish impulse from the EURUSD. I do not disagree, but I would like to see more confirmation before I jump in. I posted a note about the double top about a month ago. Since the double top from EUR, EU prices have been fairly Bearish until about 2 weeks ago. Long term fundamentals seem to support a Bullish trend for the EU, but the ride has been very 'bouncy'. I'm looking for a 'cleaner' entry and more confirmation before I jump in the 'Bear-wagon'.
I would like to see the EUR hold below the 50 level on the daily time frame. I would also like to see the USD push above 50. Remember to enter on a pull-back (short Bullish impulse) after confirmation. Don't chase the trend. Be patient and wait for a good entry. If the Bearish trend forms, we will have weeks to trade this move. Long term resistance is down near the 1.1030 area.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
Most folks are forecasting a Bearish impulse from the EURUSD. I do not disagree, but I would like to see more confirmation before I jump in. I posted a note about the double top about a month ago. Since the double top from EUR, EU prices have been fairly Bearish until about 2 weeks ago. Long term fundamentals seem to support a Bullish trend for the EU, but the ride has been very 'bouncy'. I'm looking for a 'cleaner' entry and more confirmation before I jump in the 'Bear-wagon'.
I would like to see the EUR hold below the 50 level on the daily time frame. I would also like to see the USD push above 50. Remember to enter on a pull-back (short Bullish impulse) after confirmation. Don't chase the trend. Be patient and wait for a good entry. If the Bearish trend forms, we will have weeks to trade this move. Long term resistance is down near the 1.1030 area.
This is not investment advice, just my opinion(s). Please trade accordingly.
Trade safe and keep an eye on news.
Kommentera:
The weekly view might be an easier way to watch. Wait for the EUR to break below up trending support before entering:
