We got quite an up move. Trying to fade it again. If it goes past 1.150, I may just consider moving more to European Equities than the US.
Got to watch interest and for the Euro that means 10yr German Bund - which is now, for the first time in years, firmly above 0.00
What is happening is the following: EUR/USD is going to 1.1700-1.1800 first (should not drop below 1.1300 in the meantime), but not as high as 1.2100. Then the proper multi-year down trend resumes, ending the year below 1.1000, with low for the year below 1.0700. Next years it will move to below parity. Fundamentally EUR has no future. That is the script for this market. Having said that, I am extremely pissed off and frustrated as I need pullbacks - I could not enter the whole week nor today due to vertical move and my limit orders not being triggered. I will, however, not chase it and get it filled next week at around 1.1388 keeping in mind it may drop to about 1.1340 so I will be off side by some 50 pips max.
I'm on tight stops. I look forward to a turn. Not exactly a bear on Europe. Granted, they seem to have problems. The rush to Green Energy seems to be a big one. I hope Greta Thunberg doesn't read my post.
It is just my 1-person investment committee's view - there is a ban on going short this market for now Unless from 1.1550-60 with little size A little update - might reach 1.1550-60 next week then down to 2021 yearly close at around 1.1376-80. I am now resting my limits at 1.1380. Anyway, before we see 1.1700 I expect next 2 weeks to be a bit erratic and definitely less ranging (low to high) than this week. Today's low (1.1411) is NOT a good stop.
Daily - wide range breakout bar down (always opening price):- One Hour - same WR breakout down same day 1/14/22 (chart can't be shrunk down without making it all teeny, tiny:-
Actually, Mr Market might be generous enough to drop to 1.13460. Stop would then go at 1.12480. Investment committee will review its recommendation again on Monday