I have been waiting for a retrace since the 1.29. I had a postion there that was long and it went up in a small profit but i said to myself it should go at least to 131 since this is the EurUSD not the EURJPY. My big mistake. Now i am sitting with that position which is around -300 pips but it is one micro so no too bad judging by the big losses others have made. As it hit 126 now i have two shorts because i believe the euro will hit at least 125 tomorrow.Friday is a good day for hill billes to jump the gun and dump currency ...i.e join the downturn trend. so I hope it at least goes to 125 so that i can cash my shorts with a good profit and then hope it reaches 129 at least in a few weeks if possible for me to cash out the long. I can go -1000 pips any way with that position but the euro does worry me since there is nothing that can get it up for the moment sadly....unless something happens in US or The EU do something unforseen.But i guess the IMF was the alst straw. Greece portugal and others are just the Euro zones weakest links so there is nothing that can be done to help them except splash cash and keep the people quiet for while and then may be write off the debt.
I think you are safer to put a short with a -100 pips SL than to go long for the moment since i feel the next stop for the euro is 1.20 And then it might retrace a bit to 1.24-1.25 and then drop to 1.10. You can check the charts for my analysis.When the euro retrace a bit it never went more than 100 but fell like a brick afterwards for every cent it went through downwards. I am no specialist but this thing is psycological right now.If the 125 is broken i think people will go short and until markets react we will be in 1.20
I think you are safer to put a short with a -100 pips SL than to go long for the moment since i feel the next stop for the euro is 1.20 And then it might retrace a bit to 1.24-1.25 and then drop to 1.10. You can check the charts for my analysis.When the euro retrace a bit it never went more than 100 but fell like a brick afterwards for every cent it went through downwards. I am no specialist but this thing is psycological right now.If the 125 is broken i think people will go short and until markets react we will be in 1.20
Last edited: