Euro / U.S. DollarShort
EURUSD almost complete correction, to find up side.
We were expecting a fake out to the downside to happen for the EURUSD this week. A downside move did occur but it was not an impulsive move. If we look to the higher weekly time frame, there are still areas that needs to be liquidated to the downside before a sustained up move can happen.
BEAR CASE
We think that price will continue to the downside and visit the 1.15 level
BULL CASE
The bull case is fairly capped, if for some reason it manages to find momentum to the upside, it should quickly reverse to the downside to fulfil the bear case.
APPROACH:
We short when RSI hits the top of the range.
BEAR CASE
We think that price will continue to the downside and visit the 1.15 level
BULL CASE
The bull case is fairly capped, if for some reason it manages to find momentum to the upside, it should quickly reverse to the downside to fulfil the bear case.
APPROACH:
We short when RSI hits the top of the range.
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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.
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.