Short-term EURUSD Long - Long-Term EURUSD Short
Updated
EURUSD found resistence at its previous highs 1.17 - 1.16. It did fell below it but rebounded since.
Pure from a technical perspective i see EURUSD climbing towards 1.244. That would be a major high. Touching its long term DOWN trend. A perfect time to initiate a small short position.
Crossing that 1.244 are wouldnt be an indication off a furthur rise. Beware of the false breakouts.
I am a long term bear for the euro. The Eurozone has way too many problems regarding sovereign debt & survivability for it's banks.
Once something like Greece/cyprus happens again, it could result in a rapid contaigon, bank holidays and "sovereign defaults".
Long term investor could Short EURUSD allready for the comming 3-5 years or convert some euro's into dollars. When the euro declines, the dollar will rise.
Tough times ahead. Better be on the right side.
Pure from a technical perspective i see EURUSD climbing towards 1.244. That would be a major high. Touching its long term DOWN trend. A perfect time to initiate a small short position.
Crossing that 1.244 are wouldnt be an indication off a furthur rise. Beware of the false breakouts.
I am a long term bear for the euro. The Eurozone has way too many problems regarding sovereign debt & survivability for it's banks.
Once something like Greece/cyprus happens again, it could result in a rapid contaigon, bank holidays and "sovereign defaults".
Long term investor could Short EURUSD allready for the comming 3-5 years or convert some euro's into dollars. When the euro declines, the dollar will rise.
Tough times ahead. Better be on the right side.
Note
Initial target reached. EURO seems still strong and dollar index DXY looks it can make new lows. A lot of resitence between 0.237 and 0.273. I would view a weekly closing above 1.28 as BULLISH and closing below 1.20 as bearishTrade active
Review: Brilliant analyses. Called the major top and good follow-up advice. Bear case still in play.
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