EURUSD TURTLE SOUP SETUP SHORT - BEFORE INTEREST RATE CUT

May 28

Hi. I am bearish on EURUSD now as it reached the price I was interested to open short.

Interest Rate cut for EUR is coming in June, the dollar should start reversing around now.

CFTC reported recently more commercial shorts compared to longs (attached).

Stop loss on chart.

Target 1: 1.081
Final target on retest of flip zone.

May 28

Note

We have amazing Consumer Confidence reading above expectations from US - 102 reading after 96 projection.

So far the trade is looking great.

May 29

Note

We have CPI data from German Lands, which turn out to be higher then expected, but the market moved in trade direction. On this basis I am taking 30% off my position now at price 1.083 - and I am securing the trade on break even.
Trade needs more observation and more data from US.
Stay safe!

May 30

Trade closed: target reached

50% target reached