EURUSD Analysis – Small long active, adding if we get strength
I think we can get a significant retracement in the euro until Dec at least, thus i am currently long from 1.0534, risking a drop to 1.0397, and will look to manage the position and add to it on strength. The key levels here illustrate where to observe for a reaction on retests, and can provide you with an idea of what to expect. after today’s close, if we get a smaller range day, we might look to add to longs on strength, or alternatively, wait for three daily bars to confirm the bearish momentum has faded. i will be watching it and updating this chart once I add to longs.
Once the rally is done, i think we will be able to resume the long positions in the dollar, against the SEK and JPY in particular, but possibly against the euro as well. We’ll have to wait and see, but for currently, my preferred shorts ar SEK and JPY, once viable.
In Other View Point – Eur is still weak
It may reverse here with or without double bottom but I don’t trade long unless I have a confirmation of a clean double bottom combined with completely different indicators. If the double bottom works out i’ll try to trade long, but nothing is sure. It should go lower currently that it’s broken a main trend line on the Daily and hit 1,048 My temporary strategy is on the chart. i’m not an expert trader. this is no trade advice. I share my idea’s because i am a kind one who like’s to share.