ridethepig | EUR Market Commentary 2020.03.26
Eyes on EURUSD this morning as we enter into M and Q end rebalancing to put the 🍒 on top (as if there is not already enough in play). A healthy pullback towards 1.097x is enough to draw sellers back in and makes me lean towards playing another leg towards the downside with next 🔑 support located at 1.05xx handle lows.
There will be fresh supply at current levels as no one wants to hold risk into month end - fear remains prevalent across the globe and on a humanist level sentiment remains awful. On a slightly more positive note, once these dark clouds clear (still on track for early April) then the path is paved for a massive rebound in risk assets. Remaining as nimble as possible is the pragmatic approach.
The idea is no less imaginative than that of the recently posted GBPUSD:
Thanks as usual for all those keeping the support coming with likes, comments and etc! Jump into the comments with any questions and charts.
There will be fresh supply at current levels as no one wants to hold risk into month end - fear remains prevalent across the globe and on a humanist level sentiment remains awful. On a slightly more positive note, once these dark clouds clear (still on track for early April) then the path is paved for a massive rebound in risk assets. Remaining as nimble as possible is the pragmatic approach.
The idea is no less imaginative than that of the recently posted GBPUSD:
Thanks as usual for all those keeping the support coming with likes, comments and etc! Jump into the comments with any questions and charts.
Trade active
Trade closed: target reached
