Like I've mentionned in the DXY weekly analysis earlier, I'm gonna to be looking for short on XXXUSD this week, and, what about this nice little daily candle?!
EU has been ranging last week, debating on if yes or no it should keep on going south. Looking at the chart it seems like it has made its decision as it rejected the 1.750 - 1.800 level last tuesday, wednesday and thursday, to push further down on friday.
Why am I shorting EURUSD :
1) DXY is on the way up
2) Fundamentals are in favor of a strong dollar
3) Euro has been hit by a strong selling pressure in the last two weeks, and broke the recent 1.80 level
4) It retested the 1.80 level
5) The last daily candle shows more selling pressure
So as usual, I'm entering this trade at market open, with SL above previous candle, TP = 2SL, right above the 1.05 level
We'll see how this goes, same setups can be found on GBPUSD, AUDUSD, or reversed with USDJPY, I'm already in GU and AU, gonna had EU with a half position size
Cheers everyone and safe trading!!!
Don' hesitate to leave your comments!
EU has been ranging last week, debating on if yes or no it should keep on going south. Looking at the chart it seems like it has made its decision as it rejected the 1.750 - 1.800 level last tuesday, wednesday and thursday, to push further down on friday.
Why am I shorting EURUSD :
1) DXY is on the way up
2) Fundamentals are in favor of a strong dollar
3) Euro has been hit by a strong selling pressure in the last two weeks, and broke the recent 1.80 level
4) It retested the 1.80 level
5) The last daily candle shows more selling pressure
So as usual, I'm entering this trade at market open, with SL above previous candle, TP = 2SL, right above the 1.05 level
We'll see how this goes, same setups can be found on GBPUSD, AUDUSD, or reversed with USDJPY, I'm already in GU and AU, gonna had EU with a half position size
Cheers everyone and safe trading!!!
Don' hesitate to leave your comments!
Trade closed: stop reached:
Gat stopped out by the news
Trade active:
So I've reentered!