EURUSD probably rangebound today
Updated
One of my favorite indicators is retail traders. Usually, they are wrong...
The brokers I use at current time have 70- 80% retail traders short, and the price is just squeezing down.
That leads me to believe that we will see EURUSD stabilize and range at this point, and then move higher.
I could continue to squeeze down through the week, but shorting long with a huge underlying Bullish structure on the daily chart is not an option for me.
Bullish at this point would be a close above 1.1260.
Selling short term bounces above 1.12 could be interesting short term positions. Will update through the day of what possible opportunities arise:)
The brokers I use at current time have 70- 80% retail traders short, and the price is just squeezing down.
That leads me to believe that we will see EURUSD stabilize and range at this point, and then move higher.
I could continue to squeeze down through the week, but shorting long with a huge underlying Bullish structure on the daily chart is not an option for me.
Bullish at this point would be a close above 1.1260.
Selling short term bounces above 1.12 could be interesting short term positions. Will update through the day of what possible opportunities arise:)
Trade active
Open position 1.1239Stop 1.1210
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