EU: Downside weekly target (neutral setup)
Watching 1.1 very closely today for either a rejection to the upside where we can take a long trade, or a break-and-sustain of the price shown in the chart. Being dynamic to either a long or a short entry on a contract for the Euro right now with this structure is key. There are confluences going in favor of both biases, with net short and net long positions right now currently split down the middle. This will be easy to watch for an entry. We use the client sentiment published by multiple brokers combined with options data for expirations this week to gauge reasonable downside targets. The downside target given represents over 1.5bn in options expiring tomorrow on the 27th of Nov at 10am est (Source: Bloomberg Terminal)
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.