Euro is in manipulation prolly due to the global condition at the moment by this pandemic. Trillions and billions of moolah been printed out from global center banks are just an rotten news at this point and everyone is racing against to combat the virus and protecting their own plunging economy. System has already cracked and no idea how long it might be going this way. Debt rising eventually in all nations but could help escalate back the economy for some strong nations who are good at credit ratings. Sorry I was falling into macros by the way talking about euro technically it's been in a huge bearish trend for months or even a year in higher time frame. Don't get excited with ups and down in lower pictures young boys and girls. The reason only it was doing fine against king (buck) at small timeframes were when low yielding had charms like babe yellow metal in shine! I have figure out closely like a head and shoulder pattern in 2 hour resolution and I reckon if this pattern workout it might move price upward making the right shoulder. But....!!! a big but!!! If this head and shoulder doesn't workout in first place and price plunge lower with strong bearish momentum (after all the broad picture is either way a bearish trend) without making any sign of creating right shoulder then our short bias can workout smoothly. The good thing about this trade plan is that it's guaranteed that either you make money or lose money as it's so transparent that if price make right shoulder which will equal to stopped out! We got an edge i mean even if we get right and even if we get wrong we will know it clearly ahead that what we have to prepare for! Thanks for reading my idea and I hope you enjoyed and if you think it added some value in your trading don't forget to support me by hitting a thumbs up button! (LIKE)
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If this trade works out then DXY should have upper rooms too
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Core CPI +1.0% vs +1.1% y/y expected. However, the core reading is also seen weakening and that isn't quite good news as inflation pressures continue to go nowhere. That said, the ECB and the market have more pressing concerns right now than this.
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Bear weighing on EURUSD
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The blue one is EURO and Green one Greenback (KING)
Trade closed manually:
It's trying to rebound even if it pullback it could erase the earlier profit so I decide to close this trade and don't wanna keep overnight. If you are risk taker you can risk by placing stop loss at breakeven (at the entry level) which if price doesn't reach then you can aim for more lower holding tight. 50%-61.80% fibonacci level will be possible areas where price will drop if price doesn't reversal upward.
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I have closed the trade but good news for those risk-takers as it reached around 50% finally. 61.80% is a final level where the price should reach if momentum favours the bearish!
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Update: Full bear domination on EU
Trade closed: target reached:
Congratulation for those who involved with this trade and congratulation for those who took risk and achieved the last target level!
