Euro got no backbone
Updated
Guess what... I believe the EURUSD pair is ready for a sell. My decisions to enter a trade are primarily based on my intuitive assessment of the market. While I do rely on certain patterns that have proven effective for me, the actual execution of a trade is often based on a gut feeling—whether or not I like what I see at that moment. However, this particular setup has got me thinking on a more macro level. In my opinion, the USD is on its way to strengthening. With stocks and cryptocurrencies currently trading at such high valuations, I anticipate that a sell-off in these assets could increase USD volume as people take profits and hold cash. I also see potential in buying other USD pairs. I could be wrong, but the EURUSD pair fortunately offers a positive swap fee for sellers, and I’m in no rush—I have plenty of time to see how this plays out.
Trade active
See commentary on my EURCAD analysis from August 19th for more information.
This trades breakeven for sells is at 1,10899 and for buys at 1,11283. Tp for buys is at 1,1234 and soon after another sell order. 60 pips above is another hedge.
Note
I have managed to close all my buy positions early before the most recent drop. I still have sells open in drawdown that I will probably close if the price gets near my breakeven point as their entries are not great to manage. I still expect EURUSD to drop in the future. Trade closed: target reached
YEEHAW! I was somehow brave enough to have left my sells opened. Now finally after weeks of waiting, closing this trade in profit at the target!
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