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EURUSD Still holding long positions?EURUSD is struggling a lot since the starting of this year so far. Bombarded from every side at once. The pair has fallen 270 PIPs in the last 17 days. And it has broken very strong support at 1.8370, the lowest in the last 2 years. Currently, its making 2 scenarios as currently the market is divided into 2 parts on the hottest topic in the discussion Corona outbreak. Some institutions think that Corona is the next black swan for the market. Majorly testified by Mr. Powell in his recent testimony. While Others think its overly exaggerated (Ray Dalio) Hence, the market is reacting too quickly to every other statement coming from China. Current situation: Amidst the Corona caused slowdown market turned to safe heaven DOLLAR and YEN causing EURUSD a nosedive. And at this point there are 2 possible scenarios: #1 - The pair is it last 2 years lowest and can bounce back ending the current wave. and can target 1.0916, and then to 1.0980 before deciding a direction, alternatively, #2 - A sharp rise was noticed in Corona cases by the Chinese health Dept. recently, it can push EURUSD downwards. On the other had EURO was hit by the weak performance of the German economy (a major player in the eurozone) further continuing to weaken the EURO. And if it happens he pair can take next refuge at the levels of 1.0780 to 1.0750. Rethink if you are holding EURUSD buy positions. Cheers! ---------------------------------- ✅First 100 PIPs free on! Contact me for more details
Short
by TREND-KEY
EURUSD forming falling wedgePair is still in progress of making falling wedge. We need to see another swing to the downside, to the zone 1.90-1.9020. Also, we are at end of wave 5, marking end of downtrend. Another factor is yearly low and strong support zone. So this scenario is marked under HIGLY LIKELY. Reward is 4 RR. In case that price doesnt reach our zone, we are scraping this scenario and not entering trade. www.bull-capital.com contact@bull-capital.com
Long
by UnknownUnicorn5346859
5
NzdUsd - Swing short I am HTF Bearish on NZDUD. For me, this currency goes through distribution these and following days. I will look for shorts now, if I will be stopped out, then I will short higher. The target for this swing short will be 0.63500 level, also known as a draw on liquidity "an eye". - HTF Distribution during Q1 2020 - HTF Market Structure Break - Key S/R level broken, awaiting its retest back to 0.66007 and sell-off down to 0.63500 Scenario: - You can short it now, or wait for confirmation if we will get a rejection at the current level - You can wait for a higher price for shorting (EQ or Range high)
Short
by UnknownUnicorn6034472