Short EURO every bounce until it reaches below 1

١٦ مايو ٢٠٢٢

Hello Euro traders
I believe most of the retailers are long EURO and how do I know? There are a lot of ways to find that out but one simple way is by this
fxssi.com/tools/current-ratio?filter=EURUSD OR see your platform order book

if you are waiting for a big recovery then unfortunately you are going to wait for a long long time.

Let's start, Long term in dark blue, monthly in red. I have not shown weekly or daily or short term fib level because for Euro it really does not matter.
If you are short term trader and a retailer and doing good by being long then I commend your resilience and discipline.

Euro is clearly in downtrend after breaking 2016 low. where will it end, I believe the end goal is below 1.0. At the moment we are at a huge support, it has bounced from 2016 low but mind it after breaking the low and reached 100% retracement from 2018 high. Now there will be some bounce but I have no idea how much the bounce is going to be.

If you do not agree and think that this is the low for this year then please let me know why do you think so. And if you agree then keep selling every bounce.