The chart is tailing me that price is approaching the neck line and if it gets broken then the target would be 1.28
I am short the dollar on EUR, AUD, CAD and YEN. Mainly because of the New Moon. Always works. If we do move up and get thru the 2040 area, I have 2114 2209 as next stops. My values change slightly at the end of each day so as time moves on they may change a tad. If 2021 gives way.....I see next stops as 1969 1929 1873 Good luck and if you open your window, I will be howling at the NEW moon. DRT
Everytime I step back and take a look at any longer term studies(more than 1 day) of the EURUSD, I come to the same conclusion. Complete confusion. Maybe its just me. I have a long term view, but I am not Gates, Soros or Buffet so I guess I will just do my best. I am trading other pairs much more often than I used to.
Don't worry. You're not the only one confused. This market has completely lost it's mind in the last four weeks.
In general I do not use indicators to trade. I do enjoy messing around with the fib stuff on longer time frames. I have several different time frames that indcate a major reversal is about to take place. Problem is...I have no idea which direction it might go. I think it looks like up, but who knows.
You're right! It indicates, to me, the influx of new retail traders beginning to have an effect, possibly. Pairs being picked and traded - perhaps even in a trend-type trading structure, without substantial hedging being done. It may make sense for pair movements not corresponding classically. I've been seeing it more and more for the last year. Plus, remember, we got gold and silver now easily accessable, too. Perhaps global cash is now being slammed around at a faster rate thanks to the Internet. More individual traders entering the markets was bound to have an effect, overall. Thoughts, guys? x (ps: when the market completely loses its mind, I'm in my glory! )