EURUSD showed weakening downward strength, sliding out of its channel.
I played the trend, ignored some signals and took a loss playing short - so now we wait for data as clearly there was some confusion.
This pair has chance of playing ping-pong between the D50/D200 EMAs until the main event next week, I am leaning towards further downside in the longer run - see what shakes out. Personally, Ill be giving this guy a little space
Continuation above ~1.082 would change my short bias, but something to note is the daily chart looks like we want to try and take a deeper breath up. If that's your thing to play then 1.072 should remain your friend.
Happy Trading - Stay Agile
I played the trend, ignored some signals and took a loss playing short - so now we wait for data as clearly there was some confusion.
This pair has chance of playing ping-pong between the D50/D200 EMAs until the main event next week, I am leaning towards further downside in the longer run - see what shakes out. Personally, Ill be giving this guy a little space
Continuation above ~1.082 would change my short bias, but something to note is the daily chart looks like we want to try and take a deeper breath up. If that's your thing to play then 1.072 should remain your friend.
Happy Trading - Stay Agile