EUR / USD
Aktualisiert
Good Morning
I have have been watching this chart for the last 19 months and just can't wrap my head around the size of the gap on a Weekly chart.
The overall formation is corrective, but according to what I look at there seems to now be every chance that correction will look to do a 99% retracement.
This view is based on the last part of the formation as seen in the blue square as not being a bottom formation and although it could trade higher I would look to sell a rally in the Euro, with a stop loss over $1.1410 and look for the gap to close.
At current levels, this bet does not have a great RR, that why a move to the $1.1250 and over would be an awesome place to sell.
If we miss that opportunity we will have to wait patiently to buy the Euro as I feel there a much larger Euro Bull at play once the correction is over.
This is one to keep on the radar over the next 17 months!
I hope you are all having a cracking day.
Giancarlo
I have have been watching this chart for the last 19 months and just can't wrap my head around the size of the gap on a Weekly chart.
The overall formation is corrective, but according to what I look at there seems to now be every chance that correction will look to do a 99% retracement.
This view is based on the last part of the formation as seen in the blue square as not being a bottom formation and although it could trade higher I would look to sell a rally in the Euro, with a stop loss over $1.1410 and look for the gap to close.
At current levels, this bet does not have a great RR, that why a move to the $1.1250 and over would be an awesome place to sell.
If we miss that opportunity we will have to wait patiently to buy the Euro as I feel there a much larger Euro Bull at play once the correction is over.
This is one to keep on the radar over the next 17 months!
I hope you are all having a cracking day.
Giancarlo
Trade ist aktiv
We could well be in for some decent Dollar strength over the next 2 weeks.Trade ist aktiv
The price traded just shy of our sell level at $1.1250 and for those that are short, I would stay short as I still feel that the chart will close the gap!Trade geschlossen: Ziel wurde erreicht
After a decent short the gap of 2017 has finally been closed!Well done to all!
Now we wait to buy into Euro weakness!
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