Long EURUSD - patience
Hello everyone
Hope all is well. If you saw my last video update you saw that Eurusd has a bit more downside to go. I have marked 2 possible trades that can be taken. For now the dollar is king as bonds rally, manufacturing is recovering in US, consumer still confident and strong, jobs are looking good while Europe activity is slumping vs US. I think EURUSD might bottom in around 1.02-03 area. For now i am being patient and scalping shorts till i see some range formation that might give indication that the downtrend is over. Been looking through some bank activities and saw today that a lot of Swedish banks are going bankrupt(i am wondering if this is a ripple effect of what is yet to come) If banks are starting to go bankrupt (which already happened, and also big names) you can imagine that the world will take a massive hit. I think the longer higher rates are kept, the effects are gonna be much bigger. Its a lagged effect, but i think it will be one that most of us will never wish it happened.
Please stay safe and manage risk accordingly.
Cheers!
Hope all is well. If you saw my last video update you saw that Eurusd has a bit more downside to go. I have marked 2 possible trades that can be taken. For now the dollar is king as bonds rally, manufacturing is recovering in US, consumer still confident and strong, jobs are looking good while Europe activity is slumping vs US. I think EURUSD might bottom in around 1.02-03 area. For now i am being patient and scalping shorts till i see some range formation that might give indication that the downtrend is over. Been looking through some bank activities and saw today that a lot of Swedish banks are going bankrupt(i am wondering if this is a ripple effect of what is yet to come) If banks are starting to go bankrupt (which already happened, and also big names) you can imagine that the world will take a massive hit. I think the longer higher rates are kept, the effects are gonna be much bigger. Its a lagged effect, but i think it will be one that most of us will never wish it happened.
Please stay safe and manage risk accordingly.
Cheers!
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