ScalpingRus posted: Many people sell EUR/USD and making money doing so. The question is once the trend changes, imagine how much money sellers will lose, as they will keep chasing the sell position.
Imagine it's sunny for 6 monhs... and sundenly it's getting cold & raining... How long will it take you to understand you need to wear other way?
One should ALWAYS be prepared for a change in weather. EUR/USD has been in a nose dive since March of 2014. Yes it has been exactly 1 year now. By the time the 'trend' changes, eur/usd will be 500-800 pips higher then it's low, at which point most of the shorters would of lost their profits, as we know people lack money management once they begin to see red.
The support of $ 1.05 was reached very quickly. In a long term chart on a logarithmic scale where is best seen as the minimum of the Thursday session (1.0493) coincides, to 'tick', with the base of the descending channel in recent years (by definition support). Therefore recommends the greatest caution as the bass positions in the euro, it is advisable to take any capital gains and eventually prepare long positions for trading, with a stop loss (in closing values) below $ 1.0493. Aim rise to a potential recovery have resistance zone before medium of 1.1090 to 1.11 dollars.
The eur/usd hit fresh low almost everyday this week, Today's disappointing US data was not enough to stop the bearish trend. The bearish trend has extended for 9 months in a row now, the question here is how far can it go?
peeterwoolf posted: The eur/usd hit fresh low almost everyday this week, Today's disappointing US data was not enough to stop the bearish trend. The bearish trend has extended for 9 months in a row now, the question here is how far can it go?
At this point, particularly with FOMC meeting next week, parity may happen sooner than we expected.
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