I'm short the Euro/USD from 106.55 area, since before the first break from that area. Just following the momentum, really.
Are you sure, swim?? I thought European session's downmove was pullback... Euro's intrinsic value is 1.0773 and all other major currencies including canadian dollar have converged to their intrinsic value. Only currency that has underperformed was euro and yesterday's huge upmove was the uptrend signal. I mean that's what I am thinking... Welcome back swim by the way , really great to hear from you again Ps) I have 4 long positions and will hold them until they reach 1.0773 T.T ...
Very nice short indeed in fact excellent.i'm interested to know what was your reasoning as I trade those often ?. The Euro is on daily trend line support now and price is into structure so will no doubt get held up .
I felt that the break from the 108.50 109 area had caught traders leaning long. When it consolidated above 106.50 with little reaction up, I just figured the path of least resistance was still down. And the overall trend is still down, so I've been looking for excuses to get short.
Looks like Euro is going through congestion. It will probably wake up upon the opening of the European session. We have roughly 7 hours left before we can find out euro's next movement. Whether it's down or up, I think the next movement will be volatile. It's been a while since we had an active discussion on this thread last time. so great to see old pals around here again
Yes. My trading has been stinko for quite awhile, so I've cut way back and am only taking positions where I feel I can hold for a couple of days at least. I do appreciate the company. I don't like to just have my own thoughts. I can easily get locked into positions, my thinking.
And 9 days to go for French elections which is going to be defining for the EURO currency going forward and the chances of an EU referendum. A Le Pen win isn't priced in as yet, it will tank if she cracks it....