Still holding short from 1.340. Looking at the current economic activity around the globe with the US and Syria(which the news of sent the EUR into a dive) looming and also the US FED meeting on the 16th making the next weeks make or break time for long term EUR bulls.
I see this recent bounce off of the 200 DMA @ 1.3137 as large scale professional/institutional...
With 1.34 acted as a very tough ceiling. Confirmed my short position after not breaking it after many touches of it. Now it just need the fundamental confirmation with the taper of the US FEDs QE and the floor will continue to drop out on this thing.
Possible reversal in play. Waiting for confirmation with a break of the 1.32 support line plus 25 pip "noise" level. If the sentiment at US FED is still dovish then this could possible continue up to test the 1.34 resistance mark set in mid June. Keep an eye on the US FED/Non-Farm payroll next week then hop on the trend.
Feeling very neutral until this makes its...
Here is my view on the EURUSD for the next month. Im looking for resistance around the 1.33 mark then a pull back to the main support line of 1.28. I am really doubting the ability of this to get over the 1.34 mark unless the US FED decides the US economy is still to weak to begin the taper/tightening schedule like they were expecting to. If the US numbers are...
