There is a possibility for a triple bottom and potential reversal. Let's see how this plays out.
This is not forecast unlike my other charts, just an idea/possibility that has a realistic chance to come to fruition.
People called 4k when we hit 6k bottom and where I bought, people called for 4.8k at 6.45k where I bought, people called for 5k at 6.1k where I ...
The Price Action and volatility at the 1.0750 was the catalyst to this high probability short. I owe this trade to a lot of patience because I have been stalking this for weeks.
Targeting the FX_IDC:EURUSD1.05 handle for my first Take Profit.
Stop Loss will be moved to Break Even on the close below 1.0630.
Any questions then feel free to comment below. ...
1. Based on the last 16yrs of daily close data (since 01/01/2000 to date) EURNZD has a cumulative probability of a =>6th day lower at 0.5%, hence there is a implied 99.5% chance of reversal on the daily.
2. Also we see the Z-Score for, Monthly, 3m and 2wk all above 1SD.
3. Fundamentally I also like being long EUR given the ECBs new more neutral ...