I've had success trading the Euro. It's definitely a momentum based pair. With that said, I don't understand where you guys are seeing bearishness. For this reason, I am ready to be the contrarian, as I was when it was at the bottom and everyone was calling for 1.14.
Based on the TD sequential system (a time based indicator), we are on a green 4 of 9, making higher highs and higher lows. I am looking for a 9 reversal on the daily as a good indication to start selling.
I believe EU will come back to re-test the 0.382 fib level which is at 1.1720, possibly a bit lower to take out some stops, before springing back up.
TP: 1.20
Based on the TD sequential system (a time based indicator), we are on a green 4 of 9, making higher highs and higher lows. I am looking for a 9 reversal on the daily as a good indication to start selling.
I believe EU will come back to re-test the 0.382 fib level which is at 1.1720, possibly a bit lower to take out some stops, before springing back up.
TP: 1.20
More proof that EU is cleared to go to 1.20 (1.982 to be precise, but can wick to 1.20).
200 day moving average is lining up right with the bearish kumo cloud (And tenken-sen resistance).
Depending on how the price reacts to the resistance, it could either be a STRONG sell or a long hold. I think the probabilities are lining up for a sell at this price since the overall trend seems to be a head and shoulders pattern, which is bearish. But I'm not holding my breathe onto that.