Hi! I have not traded the dollar for a long time now. I just went long dollar and short EUR less than half an hour ago, when my order got filled. I got filled at 1.5060. Since I did not trade this pair for a long time, I wonder what you think are the cases for shorting or longing this pair. I am short as of now EUR/USD with 1.5060 as entry point. I have another order around 1.51, but I do not think the market will get there today. My timing models said to sell at 1.5060, so I did what they asked.
I expect a possible retest of high, but at a lower level than to the high of 30 minutes ago. I plan to add more lower than the high in case it does not get to the high of 1.5060. What is yesterday's high?
Where, and why? If you are bullish, why? I looked at it again, and I think it would roll down from here.
If I were you, I put stop at 1.5080, +20pip stop. If you are in profits, looked like it, I will move my stop in break even. I will just trade the chart, don't know which way USD heading long term. I don't care, however I will watch bond market as well.
EUR/USD is now at 1.5028. I am going to watch it as it is getting closer to buyers at 1.5020 area. Profits are now +32PIPS. I plan to take some profits to cover cost of stop, and have a free trade from this point forward.
Pair is now down to 1.4955. Position up more than 100 PIPs. AND entry was at the exact top. Priceless!