I believe your shorts are doing very well as per my previous EUR/USD analysis. Finally, our TP at 1.1235 is reached. Last week CPI and retail reports missed expectations. But despite it dollar was supported by other fundamentals. The main driver of the USD and the stock market rally was a hope. I can even say hope and believe that the US and China will reach an agreement.
However, I think we all have to be cautious. As it usually happens, White House promises a lot and later Mr. President makes some unexpected announcements or just a tweet and kills all hopes. I am not saying it will happen this time again for sure. But the probability is high. So, stay in the loop. Coming week should be fundamentally calm, as no important reports are expected. So, I think we will see consolidation for some time.
Important range to watch (and possibly to short) is 1.13100 – 1.13500. If rejected, consider shorts with 1.11200 target. As I already mentioned, I see a high probability of unexpected announcements and moves accordingly. Keep that in mind before taking a trade and manage your risk. 1.11200 is a buy range for the long term target of 1.20000. Well, it will take a lot of time. But patience will be paid very well.
Have a profitable week!
However, I think we all have to be cautious. As it usually happens, White House promises a lot and later Mr. President makes some unexpected announcements or just a tweet and kills all hopes. I am not saying it will happen this time again for sure. But the probability is high. So, stay in the loop. Coming week should be fundamentally calm, as no important reports are expected. So, I think we will see consolidation for some time.
Important range to watch (and possibly to short) is 1.13100 – 1.13500. If rejected, consider shorts with 1.11200 target. As I already mentioned, I see a high probability of unexpected announcements and moves accordingly. Keep that in mind before taking a trade and manage your risk. 1.11200 is a buy range for the long term target of 1.20000. Well, it will take a lot of time. But patience will be paid very well.
Have a profitable week!