It took a while, since we broke the low volume support above (white box), but now that we land on this strong support zone EURUSD can find buying again and turn up for a change. This might be associated with a rally in EEM, TLT and commodities as well. Keep an eye out for those charts, probably some good trades to take. I'm in TLT already, in good profit since last week, but would consider adding exposure to gold miners, and the Euro this week. I'd reccomend averaging in, but if you're adept at short term trading you can fine tune an entry with tight stops within today and tomorrow. The news this week, by the end of the week could prove dangerous though, so in my case I will opt for averaging in gradually each day of the week until Friday, using a wide stop loss to be safe. Risk reward is over 2.15:1 with that strategy, currently.
Best of luck,
Ivan Labrie.
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I think the dollar might regain strength, fundamentals don't favor a rally in the Euro. Gold also not acting strong at all. Abandon ship...
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Took a bit longer but here we go. Should be the bottom for the foreseeable future.
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If we break above the weekly mode as expected, we have solid confirmation for the bottom indeed.
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8H target hit, we did break above the weekly mode and daily is trending up. Looks very good, might confirm a new weekly trend here, after next week.
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Last setup failed but the drop held and now looks to be turning up finally.
Once I see a break above down trend lines and price holding above the breakout. Then I would say we have a long bottom... For me I am still on the short side of this.
1030fx
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Not very sure about that... I do not think the bottom is in till we get price action under 1.15.... between 1.15 to 1.10... My opinion...my AI/ML stuff is still saying we are going down more...
IvanLabrie
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@1030fx, haha, you have AI too? Or mocking my mate Robby? :p
1030fx
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@IvanLabrie, 1030fx is my account and my personal account is robbywesthouston
@IvanLabrie, I have a personal account and business account... I just forgot to log out of my business account and back to my personal account before responding...I haft to do a better job of not answering anything using my business account only personal account...
IvanLabrie
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@1030fx, no worries. Best of luck my friend. I'm not in this trade atm, only shorted USDCAD at 1.3023 today, was in that one before but covered before the huge USD rally started.
Hopefully that was the top, wouldn't hurt, given the tight entry.
Aqua_Trader
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Agree!. Though trading the intraday i also believe it's going up
Cornhub
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target for EU? 1.2?
enilarp
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Also I have the same point of view, 1.15 lvl will be the true bottom, won't believe in that breakout until confirmation.