Short

EURUSD goal one reached

Updated

As projected on Aug 9 the EURUSD just tipped the 1.11171 and a little bit below. Next low will very likely be today 1.11007 and after that I expect a pullback and a possible new low around 1.10696. As mentioned on Aug 9 keep an eye on the CHF and CNH - the movements there can give a better birds eye view on the turbulent situation. After a second low I see tendecies between 1.1250 and 1.1500.

Note

We are getting close to the second limit of 1,10696. As expected after the last pullback the volatility slowed down and even the last short drop was very weak. I exepect that this will stay like that for today and maybe even Monday. Between 1,10696 and 1,10396 I will open a long-pos. In the unlikely case that this second target will not hit today I would not trade since there is still a strong potential for a complex side movment. The likelyhood that Pn will drop below 1,10396 immediately is rather low in my opinion.

RubenJaybird

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.