Euro basket: Buy the laggards!
Updated
Simple chart, there is clear evidence of a broad Euro rally in all crosses.
In this chart we can observe how EURCHF, EURUSD and EURGBP are lagging the rest of the group.
I don't have positions in these pairs yet, it might be a good idea to go long there as well.
If they are indeed lagging the group, the potential returns are very good vs risk.
See Tim West's EURUSD chart, or my own EURGBP and EURCHF publications for more details.
Risk allocation would have to be gauged on a distance to the stop basis, or 11 periods ATR, to determine position size. Should be an intermediate term trade. The OPEC meeting outcome will help boost these trades if my analysis is correct. Same as all the fundamental data that comes out in the next 3 weeks.
Good luck!
Ivan.
In this chart we can observe how EURCHF, EURUSD and EURGBP are lagging the rest of the group.
I don't have positions in these pairs yet, it might be a good idea to go long there as well.
If they are indeed lagging the group, the potential returns are very good vs risk.
See Tim West's EURUSD chart, or my own EURGBP and EURCHF publications for more details.
Risk allocation would have to be gauged on a distance to the stop basis, or 11 periods ATR, to determine position size. Should be an intermediate term trade. The OPEC meeting outcome will help boost these trades if my analysis is correct. Same as all the fundamental data that comes out in the next 3 weeks.
Good luck!
Ivan.
Trade closed: target reached
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