The EURUSD also starts to become overextended on the SELL side.
For me this is same as DXY, OIL, GOLD, USDPLN etc all movements due to the same event and even though the event may remain for sometime, as horrible as it is, the market is build itself into a corner.
The current rate 1.0865 starts being a good BUY and we add on weakness, if seen.
The profit order is a short-term and I feel we place an order to take profit at 1.0987.
For me this is same as DXY, OIL, GOLD, USDPLN etc all movements due to the same event and even though the event may remain for sometime, as horrible as it is, the market is build itself into a corner.
The current rate 1.0865 starts being a good BUY and we add on weakness, if seen.
The profit order is a short-term and I feel we place an order to take profit at 1.0987.
Note
take profit @ 1.0947 and remain neutral.
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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.