The euro is within 50 ticks of testing support @ 140 on a weekly chart. Add the the fact that the dollar closed under the 50% Fibonacci retracement, we may have a recipe for FIRE in the hole! If your'e greedy and aggressive, you may want to short the dollar (low risk trade) and get long the euro. I will look for a short entry when the market opens. If you're not on my buy/sell alert list and would like to be, just send your email address to - jamesolivertrades@gmail.com. Hope this helps
ENTRY TARGET HIT @ 1.40
I think the ECB will raise the rate once, however it is diffcult to argue that a series of rate hikes will follow given the current market environment.
ReplyDeletethanks for the comment. i don't trade off news or events only on patterns based off my setups. i devour market data and appreciate your thoughts. are you a trader? if yes, what so you trade?
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