Either way normal order seems to be restoring in the euro region, and they will be looking to slow the books down at some point .
A few things to note with this in mind, serious USD dollar weakness has allowed this pair to rocket, its reaching a notable high along with resistance...... alot to contend with if its going to carry on the rally.
Some core US PCE figs today which will see maybe a minor reaction , But as a whole Im now ( LONG TERM) short against the pair .
Im not going to load the boat LONG on the USD!!!! as its still very volatile..... but technically right now its lining up so for these reasons we are short @ MKT
* This has enjoyed a good rally
* USD is getting thrashed presenting long term opportunities
* Its at a major level along with resistance
* Next major level is 1.16 and its got to do alot to get there
* Its riding high above the 0.786 fib line and I feel it will lose the battle
* Profit taking will commence on the longs
So Short @ MKT 1.1430
stop @ 1.1650
TP1 @ 1.1270
TP2 @ 1.1170
Time frame to get there over the period of 30 days
Happy trading guys, I hope you all have a great weekend, Im going to a street arts festival should be fun :)
up about 70 pips right now and letting the plan unfold until friday.