EURAUD Short in progress Finally broke bearish about 30 minutes ago still has about 90 pips to go.
I thinking with the upcoming news and "B" rhetoric coupled with a soft USD that the GBP pairs in unison will retrace northward for about 100 pips. I'm thinking the CCI which on all five of these pairs has bounced upward past the -130 line it the momentum will continue.
EURUSD Short Opportunity setup for a retracement to the lower trend line.
Hi Allen, I just saw your GBPCAD post, I think it is going to rise a bit but then drop considerably depending of course on influences such as the USD, note the DXY comp on the chart, oil and of course that "B" word drama. However, on this weekly chart, it is approaching the return to the mean deviation point. So I'm thinking your call out was maybe a tad early...
DXY is just about to tag the 97.00 resistance zone, historically it will bounce around a bit in the zone and then a news catalyst will set the big money off and presto back into its normal range. For those trading Forex and like the USD crosses, wow the opportunity is exhilarating. And I will place more than one Stop order to catch the pips!
EURGBP teacup not quite ready to spill over. Going long until Wed News then will relook for direction after whipsaws are over
Short 100 pips until FOMC/FED Rate Announcement news this week then resume trade short again as its a long way to 1.075