1.05-1.06 is on the menu
=> From a technical perspective EURUSD looks ready to resume the impulsive downtrend since Jan.
=> The move is difficult to chase at this stage as the stage is set for a very short term squeeze towards the 1.180 range highs to clear the board of any late shorts.
=> That being said, any squeeze in the immediate short term should be viewed within this broader context and will provide selling opportunities in our books.
=> Similar to the dollar, there are two ways to play this dish. We either sell the break of the 1.12 range lows or sell the squeeze at 1.18. Whichever happens first the target remains the same for this leg at the 1.05-1.06 handle.
=> We are also going to be uploading a Long term EUR chart next ... stay tuned
=> The move is difficult to chase at this stage as the stage is set for a very short term squeeze towards the 1.180 range highs to clear the board of any late shorts.
=> That being said, any squeeze in the immediate short term should be viewed within this broader context and will provide selling opportunities in our books.
=> Similar to the dollar, there are two ways to play this dish. We either sell the break of the 1.12 range lows or sell the squeeze at 1.18. Whichever happens first the target remains the same for this leg at the 1.05-1.06 handle.
=> We are also going to be uploading a Long term EUR chart next ... stay tuned
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