Euro / U.S. DollarShort
Euro Approaches Crucial Support
Updated
I'm calling short on this one. US economy is strong, the Dollar will likely continue to rise in value. Various geopolitical reasons are weakening Europe.
We've had a decent rally over the past few days, which I think will be short lived. Rejected hard off the upper Bollinger band, and hit a green 9 on the sequential indicator. The bulls must retain support above 1.153 as this is evidently a crucial level. If this is taken out, all we have is 1.30 as support which will likely fail.
*** This is not financial advice, purely educational ***
We've had a decent rally over the past few days, which I think will be short lived. Rejected hard off the upper Bollinger band, and hit a green 9 on the sequential indicator. The bulls must retain support above 1.153 as this is evidently a crucial level. If this is taken out, all we have is 1.30 as support which will likely fail.
*** This is not financial advice, purely educational ***
Note
Clear brake of the red support line, invalidating the potential of a Bull Flag . Next level of support is 1.530
Note
Waiting to see if a lower high forms on the daily, and will think about entering a short position if this happens. If the bulls manage to push past 1.173, then I will re-evaluate.Trade active
Nasty Looking H&S pattern forming. Starting to scale in some short positions, and looking to increase once we break support around 1.153.
Trade closed manually
Took a small loss on this today, I still believe the Euro will drop eventually but I'm out for now.
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