ridethepig | EUR Market Commentary 2020.03.05

A playable break here in euro, with a more solid resistance found at 1.124x which seems to be the next target for buyers. Now DAX sellers are entering back into the picture which will keep EUR in bid and help us corner our opponent up slowly before a momentum break, though this attempt could be better seen in German Equities:

The position which is reached is full of resources, such as:

(i) ... EURUSD macro breakdown

(ii) ... ECB Floor

(iii) ... birds eye view then... breakout

You should also take a look at the Dollar focus which arises via FED artificial devaluation of USD:

The position we have here appears really simple and clean, but is actually rather complex given the dangerous environment. A break will allow buyers to occupy the flow and expose the 1.124 jurisdiction. In positions like this, play the momentum with extreme force.

Thanks as usual for keeping the likes and comments coming, jump in with your charts and views in the comments!

Comment:

Comment:

Trade closed: target reached