A medium term view on EURUSD
Again, not a huge fan of this pair as it always seems to outsmart me, however, I'm having a lot of fun back testing ideas and extrapolating from previous price action so I'll give it another punt.
I still believe Fiber will hit parity (as can be seen in the chart) however momentum indicators are currently very oversold and retail trader sentiment is still heavily short so I will be looking to buy in the 1.0970 for a run up to 1.22 before the final push to parity. The bold dashed line is a multi year weekly support line now turned into resistance which should cap bulls. We may even see a spike to 1.24 sucking in excessively bullish traders.
At this point I would want to see sentiment turn heavily bullish to provide additional confirmation of the impending short.
I still believe Fiber will hit parity (as can be seen in the chart) however momentum indicators are currently very oversold and retail trader sentiment is still heavily short so I will be looking to buy in the 1.0970 for a run up to 1.22 before the final push to parity. The bold dashed line is a multi year weekly support line now turned into resistance which should cap bulls. We may even see a spike to 1.24 sucking in excessively bullish traders.
At this point I would want to see sentiment turn heavily bullish to provide additional confirmation of the impending short.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.