If the US Dollar Index is short the EurUsd is long.
I'm looking forward to see the same story as in the US Dollar Index. The EurUsd should tag 1.15 during the following 2 weeks and even - as we are early in this daily cycle - the marginal break of the previous highs is not impossible.
So don't be surprised if we print the daily cycle high not at 1.15 but at 1.16 or 1.17....
The minimum we will tag in the following 2-3 weeks is 1.15.
We have a double bottom with the testback. RSI is heading to overbought. MACD has a long way to run it seems cannot crossover now.
I'm looking forward to see the same story as in the US Dollar Index. The EurUsd should tag 1.15 during the following 2 weeks and even - as we are early in this daily cycle - the marginal break of the previous highs is not impossible.
So don't be surprised if we print the daily cycle high not at 1.15 but at 1.16 or 1.17....
The minimum we will tag in the following 2-3 weeks is 1.15.
We have a double bottom with the testback. RSI is heading to overbought. MACD has a long way to run it seems cannot crossover now.
Note
Heading to the daily cycle high.Note
Closing half of the position.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.