Technically we are at a potential area of reversal. Furthermore anticipating weaker EUR and GBP. With their assets mainly in europe they are basically long EUR and GBP. Furthermore, high leveraged company exposed to interest rate increases.
EURUSD is in difficult territory though I start to become more bullish. Reasons why:
Chart: broke structure, it may show a reversal pattern (H&S) so no confirmation yet both bullish or bearish, nevertheless, it is still below structure so that is bearish.
Fundamentals: USA tends to surpluses, reduce spending, all bad for economy so usd lower?
For discussion purposes only ;) what are the odds of having a long-term double top/M-pattern being formed? Current short term C wave shows already some weakening price action. The 15 min starts a corrective move, that will in itself create an hourly bearish move down. There is still a huge run to go on the weekly to have a confirmation of the M patter, but if...
AEX index shows possibly the start of the C-wave down starting a topping period. -- AEX index staat mogelijk aan de vooravond van een daling van enkele dagen/weken. Ik zie dit als de start van een langere termijn top formatie.
i placed order to for this trade. waiting to see if the entry stop is taken. What do you guys think of this? Would welcome some feedback. I anticpiate USD strength but at same time the EXY shows room to improve or consolidate.
Starting to build short while top is being formed. I anticipate 2 scenario's. (1) top is in and visible on 15min to form ABC lower. Therefore C wave is starting now so take position, but it could get higher to form a slightly higher top in hourly before correction starts. There the short position can be completed.