Could this be the beginning of EUR/USD's expected (at least by me), run to 1.2000? Yesterday's rejection of 1.1700 looked ominous for the Bulls but that key level of 1.1680 turned things around and the 1.17's were back in the game. For the last three weeks price has tried and failed to break above 1.1750 and I expect today, a fourth assault will be successful pre ECB Statement (yes, it's today unlike my attempt to have it made yesterday!!). What Draghi then says, will determine whether 1.2000 is a reality this week, or anytime soon for that matter. I'm screaming for a little pullback (1.1710 is my preferred spot today) to get me in the game. The way I see it, there's about 5 and a half hours from the time I'm writing this until my opportunity to get into a new Long position disappears. Bring it on.
Note
Short answer to my question is: NO.You have to be careful what you ask for is a wise old saying and certainly rung true with my Long plan for yesterday. The "little pullback" I requested is so far around the 100 pip mark! Certainly Super Mario had a hand in that but the question must now be asked - "Is this pair going to sustain a rally this week"? Well with only hours remaining and price hurtling towards 1.1600, the question's a good one. My nerve hasn't wavered (well, not TOO much) but I concede that 1.1600 is likely today. So, it's there I'll be seeking the elusive launch pad. Onward and upward as they say. I wish one and all a joyous weekend - Rally Euro, Rally.....
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.
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.