I think we may have a swing trade here with EU nearing a top on monthly and having a valid breakdown. Only RSI50 remains to be broken, we should see small bounce followed by drop if this idea is valid. One more thing about TMS bollinger band being broken and retested, that's usually a sign of upcoming strong correction.
We may have another extension up to 1.27. It's up to you to keep on our original idea on weekly, but this could lead to strong losses if wrong. In my case as I open only 1% of risk so it's quite fine to keep this kind of position especially with a high interest on USD vs EUR.
TLDR : i keep my trade open, switch SL to 1.27 and open a long position@1%.
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New try for EU to reach higher high. Let's see where this leads us in order to manage both our LONG and SHORT here.
tahnk you for the analysis. what about monthly change? do you think parity will break it or continue within it?
Bastosai
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@Ronalldowen, Thanks for your comment. On monthly, we are still in a strong bullish trend and I honestly don't have a clue of what could happen next on mid-term. This current trend could also lead to break the monthly bearish channel.
On weekly, I'm looking for divergence and I'm betting on a stronger pullback (as explained in my idea) but I'm not fondamentally bearish nor targeting parity.