Get your shorts in ready to ride EURUSD down to new lows.
There are fundamentally no strong reasons why investors would be holding their bets in the Euro long against the dollar right now. Technicals are also on point, with a clear break retest of support-turned-resistance, and a wick reversal within my fibonacci hotspot.
Wide stops - it's a swing trade.
STOP LOSING TO THE SHARKS
Why do 95% of traders fail? Because you learn from the masses, then you lose with the masses. You are being fooled by the banks & institutions.
The very core of technical trading revolves around support & resistance. You are taught to sell if price breaks support and buy if price breaks resistance, but you aren't taught to win - you...
XAUUSD will roll over from the current liquidity region, and bring price closer to the $1500 support floor.
The $1533 psych level provides us with an ideal barrier for stop loss placement.
Trade safe, manage risk, enjoy.
We could see EURNOK roll over towards 9.800 support over the next few weeks.
Looking ahead towards rate releases next month - if ECB chops rates aggressively, the Euro will take some hits.
Holding a short bias for the mid-term.