EURUSD has hit the Low on 27.09.2022. – 0.95362 , and from that moment on never turned back to really test the Low once again.
Contrary to any investment logic ( USD has higher Interest Rate, way more stable environment – there is a war in Europe , prices are way above the head of your average Hans , Inflation is far and away from being under control ) Eur is buyout …Why ?
Well in my opinion ( strictly technical trader) , we are just going to test the Downtrend line at 1.10950 or even 1.14400 , and then things will get back to normal – EUR will take a dive.
But is it going to happen like that ? It should, unless current market talks and understandings of Fundamentals prevail ( wrong, very wrong understanding, but market is Always Right – do not even dream of fighting it ) .
So take a deep breath and dive into current atmosphere of buying EUR , and hope for the best….but that is something I always warned against – never, ever have any Hopes when it comes to trading – rely only on what you see in Charts and not what others are talking about, or your gut feeling.
Trade on Smaller time frames, avoid being pulled in the Data at any cost, and stay clear headed and wait for that Firm Signal your system will give you.
Monthly Chart EURUSD
There are two visible anomalies with this EURUSD ascent :
- Angle of Ascent is kind of Blunt – not your usual Rally Style movement
- It is very difficult to find a good Entry Point when Buying – Market is running away from you, and that is one worrying signal that things might get sour at a speed of light and at any time.
So are we coming to an end to EURUSD Temporary Strength ?
Probably, but probably , should, would , maybe , wait to see – won’t make you any money.
Once again, go with the Smaller Time Frames and be very careful – on the first sign of the trouble Bail out !
Add comment