Posts by angelwing2007

After ECB interest rate cut that had been expected since last month, ECB President Mario Draghi's speech weakens Euro and most likely for long term, these are statements taken from MT4 News stream : - Economy weakness, revised price stability projections affect core economies now - Very very strong pervading consensus toward interest rate cut was prevailing consensus for 25 BP cut - The ECB can not clean bank balance sheets - ECB not in business of monetary financing - ECB can not supplant Govts. of lack of structural reforms - Far from reaching conclusion on ABS - ABS market is dead - ABS market has been dead for a long time from the technical perspective I see a negative divergence on my long term MACD setup that suggest a possibility for EURUSD to go back to previous low or even lower for long term. Just like last year, for now I'll doubt any target above 1.4 as I don't see any fundamental aspect that can push it higher, maybe the old games of "buy the rumor sell the fact" plays its role again even when it goes higher than 1.4 long term downtrend may still intact.

I also agree on the downside move that may happen to this pair, and my downside target is 1.2750

trailling stop works good :D