EURUSD decision time for the triangle
=> Some key updates here on the EURUSD front since the ECB this week.
=> For those following our ideas, you will know we were expecting a dovish ECB which came inline. The way we chose to play this was a buy rumour sell fact with a short squeeze.
=> This was an attempt of outsmarting those reacting late to the end of QE. This has not played as we expected and after the poor macro data this morning from Europe we can see the triangle beginning to crack.
=> If we get a daily close below here we will go flat and start looking for further downside as early as next week.
=> Whatever the case, a very interesting one to track here. We are either setting the lows of the year and marking it in concrete here with a trap, or there is further weakness to come as we approach the end of the year with liquidity beginning to dry.
=> Stay sharp and fluid here as big sharks are swimming around these levels on the close.
=> Good luck
=> For those following our ideas, you will know we were expecting a dovish ECB which came inline. The way we chose to play this was a buy rumour sell fact with a short squeeze.
=> This was an attempt of outsmarting those reacting late to the end of QE. This has not played as we expected and after the poor macro data this morning from Europe we can see the triangle beginning to crack.
=> If we get a daily close below here we will go flat and start looking for further downside as early as next week.
=> Whatever the case, a very interesting one to track here. We are either setting the lows of the year and marking it in concrete here with a trap, or there is further weakness to come as we approach the end of the year with liquidity beginning to dry.
=> Stay sharp and fluid here as big sharks are swimming around these levels on the close.
=> Good luck
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