Euro market top, island reversal formation?

Structurally, the EURO is likely to hit 1.65 before it will be a good shorting candidate. I have it on up to 1.69.

Bull markets die with a whimper. Also, full moon on Friday. Everyone knows you always buy the Euro on a full moon.

:)
 
What a difference two days can make... Last two daily candles are dojis as the euro is at a period of extreme indecision. I think we'll see a major move next week in one direction. I'm now long on the euro with a stop and reverse short under the major trendline.

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A trend is a trend until it is not a trend my friend. At this point I believe it is a pullback until the pair tells me otherwise. Both the euro and us economies are struggling and the interest rate differential is in favor of the euro at this time. When the US starts increasing the rates is when you will start to see a sustained short of the euro and thus a reversal. Just my opinion, but do what works for you.
 
Quote from PaulRon:

aussie dollar is ending diagonal... misleading as a breakout. similar pattern to the eur/usd when it fell down in march
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I agree it has been difficult to go long and hold on to aus/usd, however there have been many nice swing trades from the long side and as I expect some more straight ahead.
 
Well, euro broke though that strong upwards T/L and went short because of it.

Speaking of the aussie dollar, how's it doing? :) If we can break that supporting T/L Looooooook out
 
Quote from PaulRon:

Well, euro broke though that strong upwards T/L and went short because of it.

Speaking of the aussie dollar, how's it doing? :) If we can break that supporting T/L Looooooook out
More...


If the Eur/Usd or Aus/Usd charts turn bearish sure I'll look for an entry on a short position. The weekly charts are still bullish so the odds are in favour of a bullish move, but I'm not planning to take a long position until I see some bullish action on the daily charts.

Good luck with your short, but realise that you are fighting the trend.
 
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