EURUSD Short Opportunity or Trap?
The euro has tumbled over the last few years as problems in the EZ persist. I wrote an article in December 2011 about the EZ problems in FX Trader Magazine and while I thought the euromageddon would occur within months, the political will of keeping the experiment alive has pushed that window out. Now, 6 years later, with the EURUSD trading almost 30% lower, political woes persist and we are getting closer and closer to the moment of impact.
fxtradermagazine.com/pdf/previewOctDec2011.pdf - excerpt.
While I currently don't have any positions on the pair, I am looking to enter a short; however, at these lows, its difficult to do so. I'm looking for a catalyst to push the pair below 1.04, but at this time, any positive euro news combined with negative dollar news could bring this pair back into 1.12-1.14 level, the range over the past 12 months. I'm looking at this as a very long term setup so will be doing regular updates.
fxtradermagazine.com/pdf/previewOctDec2011.pdf - excerpt.
While I currently don't have any positions on the pair, I am looking to enter a short; however, at these lows, its difficult to do so. I'm looking for a catalyst to push the pair below 1.04, but at this time, any positive euro news combined with negative dollar news could bring this pair back into 1.12-1.14 level, the range over the past 12 months. I'm looking at this as a very long term setup so will be doing regular updates.
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