It appears the dollar is in the process of consolidating or reversing. I recently made some changes in my "currency allocation". We are getting a break of daily 10 SMA and downtrend confirmed on LT intraday charts. If this is the top for the euro, it was tough to short it. Let's see how it closes Friday though. But if there is a violent reversal in currencies, we'd better be prepared.
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Greenback come back
- Thread starter Kicking
- Start date
This is the start of a very much needed pullback in my opinion..very healthy, but not going to be the end of the dollars fall in the longer term. It will find solid support for sure around 1.19/20 mark i.e previous high, before heading 1.30+
Again, only my opinion....will just see how things develop and trade long/short as things merit.
Again, only my opinion....will just see how things develop and trade long/short as things merit.
Kicking, can you believe this, I traded the EUR/USD Monday-Wednesday but missed this 240 point correction drop!Quote from Kicking:
wow what a humongous move!!! Two and half cents taken out of the Euro! sh*T! I wanted to get short in my FX account tonight but now it has moved way too much. I had a signal on USD/CHF last week, but Monday's open didn't look good so I didn't take it. Well I learned something.
Is this the "intervention" some have posted about?
Regards,
Quote from overload:
Kicking, can you believe this, I traded the EUR/USD Monday-Wednesday but missed this move!
Is this the "intervention" some have posted about?
Regards,
Still no intervention, but many long stops would have got taken out by the move down, thus increasing the move. I was fortunate enough to capture things from 1.2687 after it breaking the trend line on my charts and just "gut feel" (I dont have a mechanical system at all, I just use MACD and Stoch for some for some pointers).
I still see more downward movement tho before resuming the uptrend.
Izeickl: Good trade!!Quote from izeickl:
Still no intervention, but many long stops would have got taken out by the move down, thus increasing the move. I was fortunate enough to capture things from 1.2687 after it breaking the trend line on my charts and just "gut feel" (I dont have a mechanical system at all, I just use MACD and Stoch for some for some pointers).
I still see more downward movement tho before resuming the uptrend.