Euro / U.S. DollarShort
Euro possible lower MM target
Updated
The euro is continuing to find resistance at 2015 year highs where there seems to be an upper TL forming. I believe rallies if price trades back up to it would offer a good RR opportunity to sell the euro with a stop above the year 2015 high. Alternately, a break of year 2015 low on a strong daily close would offer another opportunity to sell the euro.
Looking at time the current range the euro has been trading in is similar with two previous times. If the euro makes an equal mm to the downside as the previous selloff. The euro has a possible downside target @ 0.81826 - 0.82800
Looking at time the current range the euro has been trading in is similar with two previous times. If the euro makes an equal mm to the downside as the previous selloff. The euro has a possible downside target @ 0.81826 - 0.82800
Note
New eurusd chart posted in comments.Note
I know this is the GBPUSD pair. However, if this pair starts to tank the euro could be tanking right with it. If price closes below the NL on a strong monthly close, the GBP could be in trouble and the EURO would be not to far behind. This is hinting at up coming problems within the EU that could sent the GBP and EURO crashing. This could be a historic move similar the the 2009 GBP crash. The EURUSD pair could just tank. There is an old filled gap on a simulated EURUSD from 1972. I am thinking which is very dangerous for me. Maybe, just maybe the EURO want to fill that old gap now that it is a currency in circulation. It is possible. Possible historic currency moves could be in front of us.
Note
I am probably wrong 100% with this idea. However, I wanted to post it here for my future reference. While nobody can forecast the future. There are tells in sentiment. Here is one with Nigel Farage at the European Parliament recently. Full speech of Nigel Farage at the Eu Parliament. All of Parliament is booing him. The crowd is usually wrong. I would believe they are wrong once again. If we could put the EU parliament sentiment on a chart it would show extreme arrogance towards The UK and Nigel Farage. At extremes is when big moves start where arrogance in this case blinded the majority of the problems staring the EU Parliament strait in the face. I do not know if the euro will crash like I believe it could. I just believe the EU Parliament will continue with policies that could be detrimental to the euro. youtube.com/watch?v=MlN9o3g-yuA
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.