Simple chart, there is clear evidence of a broad Euro rally in all crosses. In this chart we can observe how EURCHF, EURUSD and EURGBP are lagging the rest of the group. I don't have positions in these pairs yet, it might be a good idea to go long there as well. If they are indeed lagging the group, the potential returns are very good vs risk. See Tim West's EURUSD chart, or my own EURGBP and EURCHF publications for more details.
Risk allocation would have to be gauged on a distance to the stop basis, or 11 periods ATR, to determine position size. Should be an intermediate term trade. The OPEC meeting outcome will help boost these trades if my analysis is correct. Same as all the fundamental data that comes out in the next 3 weeks.
EURUSD is lagging now, retraced way more. Making it a very attractive buy.
IvanLabrie
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This was very nice, shame I closed most except for eurcad and eurjpy, because of exposure concerns (also wanted to book some profits for a change...it can wreak havoc with your mind if you have unrealized profits for a long time)
IvanLabrie
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The spread trade was a good idea here. Intense climb!
aibek
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Hi Ivan, really interesting analysis, I do same for precious metals but never did for currencies, if you look into daily eurgbp you will be even more bullish.
IvanLabrie
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I did, might be a corrective structure but even if it is, there is considerable upside in it.
The basket trade is working well as you can see, although I went to bed before being able to scale in on EURAUD and EURNZD, which is a shame, but well.