Post Coming Soon
EURUSD Short on March 29, drew a trend line under the slow up trend, selling picks up and a good move follows.
As pointed out on the forum, EURUSD is at a major negative trend line here spanning back to 2009, which is why I’m reading articles aptly named “This week a critical point for Euro Bulls” and the like. Here I am reluctant to buy or sell until the trend line is broken to the upside or a down trend forms (or at least some nice tradable ranging action).
EURUSD here easily sets up into a long by showing us EURO is becoming very strong and USD is becoming progressively weaker and weaker resulting in a breakout of the currency to the upside.
Here I point out where USD is getting very weak with heavy sell volume and GBP is pretty strong, not very at first but the combination, instead of resulting in spectacular moves up 100-200 pips, we see a slower steadier move up the same amount of pips in a longer amount of time.