A great opportunity for Shorting EURUSD
Finally it is the time to trade EURUSD . I have been waiting for this trade for weeks.
Here are a few reasons that convinced me to trade EURUSD:
1) Technically the price has broken the long terms and has been trapped inside two . Just recently it broke the larger and just yesterday it retested the again and it acted as a resistance. Technically we have what we have been waiting for particularly as the Stop loss is not huge.
3) Also see the Euro Index ( EUSTX50 ). It normally moves on opposite direction of Euro futures . See the false breakout of the at the bottom of the channel followed by a break on the other side of the . See where it is heading. Yes, UP. It is what we need for our EURUSD Short trade because it suggest Euro to go lower.
4) See weekly weighted average EURO . It make Lower Low on although it makes Higher High on the price trend.
5) That was it about EURO . NOW let’s look at US DOLLAR . What a beautiful breakout of the weighted average USD which happened after a false breakout of the lows. Target is the highs of the or Fibo overlaps. Stronger USD is what we need for EURUSD Short trade.
6) See the nice breakout of the Treasury Notes. It moves in the same direction of the USD.
7) DXY is self-explanatory
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