Today we had another bullish day; the pair moved up to 1.4330 from 1.4101;
right now it is trading @ 1.4322;
tomorrow we will have some important news on the USD side and a not worse data than expected may change the all scenario;
over 1.40 looks like the EU exportation vs US may have a problem...
somebody else says that EUR is overestimated by 25% vs USD...
next Thursday we may know that somebody just decided to buy 60 billion euros of covered bonds, I am talking about ECB president...
Now the technical analysis says BULLISH;
But we have some fundamental that may drive the pair back below 1.4000
I will start building a short position from now until tomorrow, and will see by the end of the week if this bullish scenario will follow or will end soon.
here are some support and resistance:
R3 1.4709; R2 1.4480; R1 1.44; S1 1.4171; S2 1.4022; S3 1.3793
my trading plan:
I will sell 1x unit of EUR/USD right now @1.4321 (I know I should never try to anticipate the market...)
stop loss @ 1.46;
and I will see tomorrow if I will sell more on the way down or up.
have a good trading
:D
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