EUR crosses/EUR/USD/Technical Analysis

EUR/USD: Still too hard for me, no idea where it’s going

  • Strong demand related to EUR/AUD flow but this is probably mostly done by now.
  • EUR/JPY stop-loss selling has off-set the EUR/AUD buying to some degree.
  • EUR/GBP looks to have a top in place just below .8600.
  • Technical picture suggests that the short-term extremities for EUR/USD are at 1.28/1.33.

I cannot see any reason to trade EUR/USD at the moment especially given the big flows in AUD and JPY and the stronger technical indicators from the GBP.

  1. On Friday EUR/NZD had the biggest daily gain for months – that usually means a sharp drop in the next 3-5 days. It is trying to get to 1.7 but with a nice negative divergence. I’m not going short yet, but maybe there will be an opportunity for a 3-500 pip fall soon.

  2. This is a good list for beginners to know the different strategies to become a successful trader. It’s definitely worth looking further into it. I will recommend this source to others as well, thanks for the info!

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