EURUSD has an interesting signal in the short term. The chart points to more upside here, but the most interesting thing is that the stop loss for this long trade is very tight. Also, we have a record position in speculator shorts in treasuries plus a massive selloff courtesy of China, which would correlate with today's dip in the Euro (on the back of Yellen's remarks as well).
With these things in mind, there're big expectations going into Trump's inauguration on Friday, and the downtrend mode resistance has been breached in the daily and weekly charts here, so, upside is possible. I don't discard a selloff in the Pound, so I'd keep that short as my backup plan, but I'm taking this long here.
Good luck,
Ivan Labrie.
With these things in mind, there're big expectations going into Trump's inauguration on Friday, and the downtrend mode resistance has been breached in the daily and weekly charts here, so, upside is possible. I don't discard a selloff in the Pound, so I'd keep that short as my backup plan, but I'm taking this long here.
Good luck,
Ivan Labrie.
Trade closed manually:
Closed half at 1.066 something and placed a break even stop.
Trade active:
There's a half position running, with stop at entry. ECB next...
Trade active:
Stopped, and reentered at market, stop 1.0595 half size.
Trade closed: stop reached:
Lost some of the profit. I flipped short, I think $USDEUR is in an uptrend still.
Trade active:
Reentering on close here is ok.
Comment:
Acting well.
Trade closed manually
Comment:
