After last 2 weeks of US-CHINA trade talks and BREXIT talks, the EURUSD gained over 160 pips and GBPUSD gained over 500 pips to close the week last week. It was due to the Geopolitical talks not EURO Zone economic strength
Even though the Data from EURO is showing accelerating weakness, EURUSD was rallying . CFTC data for last week showed slightly decreased Net USD longs but still USD Net Longs are at a very substantial level. It also showed a slight increase in Net Long EURO. This is indicating that the
1. Sentiment among the BIG BOYS is still NET : --- USD Long and EURO Short
2. BIG BOYS are still not convinced that this short-term rally can be sustained with current fundamental economic conditions in EURO zone in the short-term
3. BIG BOYS forecasts are still aiming at 1.0800 Level for EURUSD even with BREXIT Deal and US-CHINA Trade War partial deal
I think the euphoria has died down and EURUSD short-term rally might not be sustained. Please find a nice entry level
Entry Short : 1.1017 to 1.1067
Exit Short : 1.0864 to 1.0887
Trade Duration : For the next 2-3 weeks . If Target is not reached within next 3 weeks cancel the trade or take profits .
Even though the Data from EURO is showing accelerating weakness, EURUSD was rallying . CFTC data for last week showed slightly decreased Net USD longs but still USD Net Longs are at a very substantial level. It also showed a slight increase in Net Long EURO. This is indicating that the
1. Sentiment among the BIG BOYS is still NET : --- USD Long and EURO Short
2. BIG BOYS are still not convinced that this short-term rally can be sustained with current fundamental economic conditions in EURO zone in the short-term
3. BIG BOYS forecasts are still aiming at 1.0800 Level for EURUSD even with BREXIT Deal and US-CHINA Trade War partial deal
I think the euphoria has died down and EURUSD short-term rally might not be sustained. Please find a nice entry level
Entry Short : 1.1017 to 1.1067
Exit Short : 1.0864 to 1.0887
Trade Duration : For the next 2-3 weeks . If Target is not reached within next 3 weeks cancel the trade or take profits .