EURUSD Breaking Bad - Look to Short the next counter-rally
Updated
EURUSD
EUR broke important support at the 1.15088 line on Friday and then collapsed in a near straight line towards the next line of support at 1.13679, after making a low 19 pips above here so far.
All these lines on DXY and Gold and here too are weeks old and none of these charts have had to be updated or amended....showing how slooooow most markets are compared to Bitcoin, which needs updating every day and somettimes more.
There's a lot to be said for the quiet life.
Bitcoin is Formula 1 full-on - or used to be : (
Everything else is so sloooow in comparison.
Still believe that Bitcoin provides the best training ground for trading across multiple markets - but they require way more patience usually, that's all.
The break on Friday looks like the prelude to bigger a break-down which should take EUR back down to 1.0855 and potentially as far back as 1.0490 through the Autumn/Fall period.
In the very near term the nearest support potential lies at 1.1367 and extends down to 1.1316 which should create a counter rally back to the 1.148-1.1508 range at best before it falls away again - it may be quite dramatic when it does.
Look to short the counter-rally with stops just above the 1.1532 level by a few pips.
Can use the DXY chart as confirmation.
TP 1 1.1118
TP2 1.0855
TP3 1.0490
For fastest updates in real-time please see Global Markets link at top left of main page.
EUR broke important support at the 1.15088 line on Friday and then collapsed in a near straight line towards the next line of support at 1.13679, after making a low 19 pips above here so far.
All these lines on DXY and Gold and here too are weeks old and none of these charts have had to be updated or amended....showing how slooooow most markets are compared to Bitcoin, which needs updating every day and somettimes more.
There's a lot to be said for the quiet life.
Bitcoin is Formula 1 full-on - or used to be : (
Everything else is so sloooow in comparison.
Still believe that Bitcoin provides the best training ground for trading across multiple markets - but they require way more patience usually, that's all.
The break on Friday looks like the prelude to bigger a break-down which should take EUR back down to 1.0855 and potentially as far back as 1.0490 through the Autumn/Fall period.
In the very near term the nearest support potential lies at 1.1367 and extends down to 1.1316 which should create a counter rally back to the 1.148-1.1508 range at best before it falls away again - it may be quite dramatic when it does.
Look to short the counter-rally with stops just above the 1.1532 level by a few pips.
Can use the DXY chart as confirmation.
TP 1 1.1118
TP2 1.0855
TP3 1.0490
For fastest updates in real-time please see Global Markets link at top left of main page.
Note
DXY Dollar Index Medium TermDXY Shorter Term
DXY Longer Term
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