I'm thinking the Euro is a huge short here. I'm short from a tad higher, but considering the reward to risk I think this is a very good trade to reccomend. Between 6 and 12 to 1 reward to risk ratio. Stop is 80 pips higher or so...Keep risk between 0.25% and 2% of your capital.
Target is hard to quantify, but it could be a long term top here since it was rejected at monthly resistance.
My guess is margin longs taken using Euro loans were sold, and this caused the recent rally in $EURUSD, in tandem with falling stocks.
Cheers,
Ivan Labrie.
Target is hard to quantify, but it could be a long term top here since it was rejected at monthly resistance.
My guess is margin longs taken using Euro loans were sold, and this caused the recent rally in $EURUSD, in tandem with falling stocks.
Cheers,
Ivan Labrie.
Trade closed manually
s3.amazonaws.com/tra...shots/j/JTHfM1Pb.png