3EURUSD
Candlestick-Pattern: Daily Rising Three
Seasonal: 71% down, 74 pips up, 208 pips down
How far can you go, EURUSD? I am currently long EURUSD – but I will reduce my risk and put my SL to Break-Even and will also be scaling out. My target of 1.123 was hit and I closed a position with nice profit. Now I am looking for situations to go short and close my open positions.
COT-Index-Analysis:
EUR has and index of 0 on all timeframes. So EUR is expected to go weak within the next days and weeks. Now the commercials have gone netto-short – as they have not been since May 2014!!! Actual market behavior shows, that non-commercials are driving prices now. Also retail-traders as us are on the road to higher EURUSD-prices.
USD’s index is still at 100 on 13 and 26 weeks timeframe. I still expect the dollar to become more bullish.
Fundamental:
The FED is going to rise interest rates. Maybe they will do that even sooner than expected because of the super-growth of the economy. EUR-zone is still struggling despite having the lowest interest-rates possible.
As newspaper told these days that 100 Mrd Euro have been changed into the Dollar last years – now 6 Mrd habe been changed backwars. Maybe this is the current upmove. Will there be more momentum to the upside? I expect EURUSD to drop-off the next resistance.
