As indicated on my previous EUR/USD idea (that's still currently open), I remain short EUR/USD given the technical aspect of things are still valid.
Divergences are still in play along with a rising broadening pattern and the fact that we're trading at the yearly R3 level (which is rare).
I suspect we will have some volatility with the ECB press conference tomorrow, so that should get things moving hopefully in the bearish direction. If we begin trading aggressively above 1.1800+, that will invalidate the short idea overall.
If we roll over, I'm still looking for 1.13000 - 1.12000 as the target range for Q3 going into Q4.
We'll see how this all develops.
As always, Good Luck & Trade Safe!
Divergences are still in play along with a rising broadening pattern and the fact that we're trading at the yearly R3 level (which is rare).
I suspect we will have some volatility with the ECB press conference tomorrow, so that should get things moving hopefully in the bearish direction. If we begin trading aggressively above 1.1800+, that will invalidate the short idea overall.
If we roll over, I'm still looking for 1.13000 - 1.12000 as the target range for Q3 going into Q4.
We'll see how this all develops.
As always, Good Luck & Trade Safe!
Trade active
The EUR/USD continues its decline after breaking down from the bearish rising broadening pattern, bringing short positions well in the green.I’m keeping an eye out for further price declines with FOMC and NFP on deck.
We’re currently finding some supporting bounce at the yearly R2 level (1.15200) so that’s a price level to be conscious of.
The area of interest to unload short positions remains at 1.13000 – 1.12000.
In my monthly and quarterly view, this bounce in the USD is a pullback before it resumes its decline, and EUR/USD continues it rise towards 1.2000+.
•NYC Trader since 2008
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
•NYC Trader since 2008
•Need Help Trading? internaltrader.com/helptrading
•Need Help Trading? internaltrader.com/helptrading
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.