Shorting EURO after Bearish Move Below 50 Day MALooking at the chart for Euro Futures, the Euro today dipped below their 50 Day MA. I'm hesitant to enter a short position right now, I would like to wait and see a confirmation of my thesis with trading starting negative tomorrow, as this could be a fake-out break-out.
However, if it confirms bearish trend tomorrow, will short in the morning, with initial price profit target at 1.0625. Stop loss will be at 1.071.
All the best,
RC
ED1! trade ideas
Short Eurobalanced during the US stock session forming a pennant . If it breaks lower, I am expecting 1.07585. Once it gets there, I am expecting a balanced range that might last for more than a day. If it breaks this lower I am expecting 1.07000, that it is also a Fib Retracement of 78.60.
EURO breakoutEuro retest of support held today. Potentially great risk/reward here. Long with target near 1.15. Stop right under 1.0750.
March Euro Buy OpportunityMarch Euro completed a 1-5 Elliot Wave. Last days price action is showing a continued move upward above the 20 day moving average, then possible continuation up to 1.09610 just above the Oct 25 low.
