EUR/USD & GBP/USD - Is the Bull still alive...After the Trump tariffs gap last week, the EUR/USD and GBP/USD experienced a significant gap down but recovered nicely. GBP/USD positions were closed at a small profit to protect overall risk but still holding long positions on the EUR/USD and continue to look for 1.0600 as long as price does not exceed 1.0200.
Expecting some volatility this upcoming week especially with Fed chairman Powell testifying on both Tuesday and Wednesday. Will keep an eye on price action and it's development.
Aside from FX, still holding SOXL and looking for the gap to be filled but keeping a close eye on the breakdown below $24.
Good Luck & Trade Safe.
Eeurusd
EURUSD Short for a few daysEURUSD formed a double top a few days ago, and has recently broken below support. We will likely see a movement down to 1.21000 in the next couple of days.
Furthermore, that wave down will put it right on the long term ascending trendline from 4/11/2017.
It may be a good spot to buy there, provided that EURUSD doesn't push below that trendline . We will see.
Remember to do your own due diligence before trading.