EurUsd- Don't be fooled by the rebound!
I'm bearish EurUsd and also in my yesterday's comment I draw attention to the high probability of a drop under parity.
Indeed, we had this drop and now the pair is hovering around 0.99.
Of course, a rebound is possible and probable from this point on, but don't confuse this with a genuine reversal.
Instead, use this correction for opening short trades and join this grossly bearish trend.
In my opinion rallies towards parity and slightly above should be sold and only EurUsd back above 1.01 would delay this bearish scenario.
Even is hard to believe for some, we should get used to a stronger USD for the medium to longer term.
Indeed, we had this drop and now the pair is hovering around 0.99.
Of course, a rebound is possible and probable from this point on, but don't confuse this with a genuine reversal.
Instead, use this correction for opening short trades and join this grossly bearish trend.
In my opinion rallies towards parity and slightly above should be sold and only EurUsd back above 1.01 would delay this bearish scenario.
Even is hard to believe for some, we should get used to a stronger USD for the medium to longer term.
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