- Feeling that EUR/USD oversold for a while now.
- Opportunistic long this afternoon. Average in-rate today at 1.2182.
- Looking like a decent trade now (1.2277).
- Break below 1.2142 and bounce back above = many shorts taken out of positions.
- Reckon this bounce could be good to 1.2672 or higher in light of the one-sided market. Certainly I have no interest to sell it anywhere below 1.25.
- Monthly and weekly bearish although a large bounce is still possible within those context.
- If right, then it probably means I will have another shot at EUR/GBP at much more decent levels (unless cable rockets off independently).
2 comments:
Very risky to go long on EURUSD but you are probably right, a rebound can happen soon. I prefer to wait for a rebound to sell. Currently I had shorted AUDUSD position.
Cut loss at 1.1991
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