Euro / U.S. DollarShort
EURUSD UPDATE 220 PIPS
Hello Everyone, on September the 10th I placed a short on EURUSD I gave a couple of reasons which I will briefly mention... for my fundamental analysis we have seen the former supreme court justice Ruth Bader Ginsburg sadly pass away, Trump is going to be announcing a new supreme court justice this upcoming Saturday which the Democrats won't like at all creating more of a feud between the two political parties which will more than likely mean that there isn't a fiscal stimulus package coming for a while which is good for the dollar. We have seen the EU print 'Brrr' more Euros using it to fund most of the countries like Spain, Italy, and Greece who have been affected the most by the 'roni rona'. With the second wave now appearing in most European countries this is also a bad overview for the EURO. We also recently saw that the DXY ( dollar index ) has poked up from the grinding channel it was trading in giving buyers more confidence in the dollar, it did come back to retest that level than found support to eventually go up past 94.00. For my Techincal analysis, we saw a key moment on September the 19th with it coming back to retest the ascending channel which held, and then... the bears jumped in really moving it down to new session lows. Gold has been a big factor in this trade as well looking at gold I saw a bearish potential with an ascending channel forming then breaking out and eventually coming back to retest it on September 20th with the bears stepping in. Elections are coming up this November where people might look to secure their earnings and move their money into cash assets like the dollar which I think is giving the greenback a boost. Hope you enjoyed my analysis feel to comment and I am open to constructive criticism and any ideas you might have. I currently have closed 75% of my position for people wondering and leaving the rest to run to my take profit also my stop-loss is at break-even with this being a risk-free trade. Be sure to check out my analysis on the related ideas sections below showing you the journey of this trade.
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