Looks like the EURUSD is not going to be shorting for two-three days as it needs to retrace as it's sitting at a pretty "bouncy" support line, plus it just hit the 200 MA on the weekly timeframe. The goals for the short-term long sit at the 0.382 and 0.618 FIB retracement, if it goes beyond that, of course in the long term it's going to continue growing, but I doubt it.
The reason for the long-term short I want to believe is due to the current possible economic regression. However, I'm not entirely sure about this one as it could go in any direction.
The reason for the long-term short I want to believe is due to the current possible economic regression. However, I'm not entirely sure about this one as it could go in any direction.
Comment:
Given the cut rate by the Feds, this is most likely going up in the long term, so time to buy.
Trade closed: target reached:
It'll keep going down.