After witnessing a strong buy for last 2 weeks it is obvious there will be a loss of momentum, as Newton law says; force is equals to mass times acceleration.
here is a good part. the non-commercial futures position buy orders is punching above the 15 weeks moving average by 9008 lots, whilst the short is 33,346. it is obvious that Eur favours a downfall. on the other hand the sentiment is 37% of buy and 63% sell and the net position has been suffering on negative sign according to COT data.
This chart on technical view illustrates a 61% of fibonacci so we expecting a downfall.
Finally the DAILY ATR (14) is hitting a new high at 74.5 pips since 21-june-2019, this tells a high volatity and obviously it will eventually cool down. i suggest to invest when ATR has cooled off. Happy traders everyone. one love from PIP-Turbine
here is a good part. the non-commercial futures position buy orders is punching above the 15 weeks moving average by 9008 lots, whilst the short is 33,346. it is obvious that Eur favours a downfall. on the other hand the sentiment is 37% of buy and 63% sell and the net position has been suffering on negative sign according to COT data.
This chart on technical view illustrates a 61% of fibonacci so we expecting a downfall.
Finally the DAILY ATR (14) is hitting a new high at 74.5 pips since 21-june-2019, this tells a high volatity and obviously it will eventually cool down. i suggest to invest when ATR has cooled off. Happy traders everyone. one love from PIP-Turbine