sebking1986
Private
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Broken structure on which time frame?
EURUSD Analysis (ongoing thread)
- Thread starter ForexViking
- Start date
Glastonburyk
Recruit
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- 118
I’m looking to short
sebking1986
Private
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- 622
DXY showing signs of real strength which is bearish for EURUSD
Really is, DXY is at a yearly high right now wonder if itll power through without a retracement
ForexViking
Recruit
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- 159
22/08/2022 - EURUSD weekly analysis.
Coming back down to hit parity, can’t see a turn around anytime soon and downtrend continues to be textbook.
Think the main question is - how far can it fall?
“Retail trader data show67.76% of traders are net-long with the ratio of traders long to short at 2.10 to 1.” In taking the contrarian stance though 1.0 parity is a strong support to break and we may see consolidation building.
This still rings true: Goldman Sachs - “The next 6 months seem likely to be challenging for the Euro area, which is likely to keep EUR/USD close to parity. Our economists now expect the Euro area to be in recession in the second half of this year; spot data are already slowing materially and further production disruptions are likely.”
For me I’m watching the 1.0 support closely and right now holding sells until we hit it, will reassess from there.
How do you think it’s going? Can you see any upside to the pair?
Coming back down to hit parity, can’t see a turn around anytime soon and downtrend continues to be textbook.
Think the main question is - how far can it fall?
“Retail trader data show67.76% of traders are net-long with the ratio of traders long to short at 2.10 to 1.” In taking the contrarian stance though 1.0 parity is a strong support to break and we may see consolidation building.
This still rings true: Goldman Sachs - “The next 6 months seem likely to be challenging for the Euro area, which is likely to keep EUR/USD close to parity. Our economists now expect the Euro area to be in recession in the second half of this year; spot data are already slowing materially and further production disruptions are likely.”
For me I’m watching the 1.0 support closely and right now holding sells until we hit it, will reassess from there.
How do you think it’s going? Can you see any upside to the pair?
sebking1986
Private
- Messages
- 622
The answer to the question on how far is best answered by looking left and zooming out. There are levels from around 20 years ago that need to be recapitalised so they would be targets for me.
TareqS
Sergeant
- Messages
- 231
As long as the price stays below 1.00000, the bear may dominate in the pair. One of the daily candles closed below the level and the next daily candle came out as a bullish corrective candle closed within the level as well. It means we may see some strong bearish move in the pair.
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