EURUSD has an interesting signal in the short term. The chart points to more upside here, but the most interesting thing is that the stop loss for this long trade is very tight. Also, we have a record position in speculator shorts in treasuries plus a massive selloff courtesy of China, which would correlate with today's dip in the Euro (on the back of Yellen's remarks as well).
With these things in mind, there're big expectations going into Trump's inauguration on Friday, and the downtrend mode resistance has been breached in the daily and weekly charts here, so, upside is possible. I don't discard a selloff in the Pound, so I'd keep that short as my backup plan, but I'm taking this long here.
Good luck,
Ivan Labrie.
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Closed half at 1.066 something and placed a break even stop.
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There's a half position running, with stop at entry. ECB next...
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Stopped, and reentered at market, stop 1.0595 half size.
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Lost some of the profit. I flipped short, I think USDEUR is in an uptrend still.
my longs stop 2 times, as well as my shorts 2 times :-----((((( crazy market , reentered small long, thinking target of 086, good weekend
IvanLabrie
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@krescht, Tricky indeed!
With risk from the news out of the way we can reenter. Your target is fine.
Have a nice weekend!
sreekarn9
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I am long too on this pair. My stop didn't trigger, came pretty close. Lets see how it goes.
IvanLabrie
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@sreekarn9, cool. It could still work. I flipped short, since I had some profit from the long initially, despite the retry getting stopped. I sized the reentry smaller.
sreekarn9
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@IvanLabrie, cool. Here is my trade. Fingers crossed :)
zhipengcfel
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DXY rebounded from the previous consolidation area. EURUSD should have a correction these days.
JeroenHouttuin
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Followed you on this one, but my tight stop triggered pretty fast... Difficult week in Forex isn't it? :)