EUR/USD, 1.0900 is back but…

074 eur-usd 27.03.

There is a rumor about Greek capital control circulating, but who cares is this move because of that or not!? 1.0900 is broken strong with high of 1.0948. Well, this could be a fail brake based on rumor, but I wrote in my yesterday’s EUR/USD analysis that this up trendline could stop the fall and push the pair up again and that is exactly what was happen here today. Euro is bullish in the last 8/9 hours and this move up is not so strange. Very interesting week at the most traded curency pair, this is great. Have a nice weekend! 😉

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3 comments

  • You knew from the begining this will be a fail brake and that is the reson why I love your analysis Mario. Fantastic.

    Liked by 1 person

    • 😉 Thank you, that’s why experience is very important. I asumed that yes and I even write it at my chart, but I remove that.

      Like

    • I agree, great analysis and spot on. Possibly we are looking at an ascending triangle here with the base line being at 1.1050/70 area. If it works out there may possible be another bounce on the ascending trend line or possibly two (may even be three) and then a break. Conventional wisdom might suggest that the break could run as high as 1.25000 which actually would make a lot of sense. It would be below what Draghi has described as the traditional range being between 1.30000 and 1.40000. Thus in summary, this is a buy on dips with a buy/stop should the price start moving above 1.1100. Whilst there would be good argument for a sell limit in the 1.1050/70 area with a 50 pip maximum stop, it would be a bit of a punt and it is not a trade that gives me any conviction.
      However what does concern me is the COT which hit an all time Euro short with one of the greatest interests. The only saving grace is that the retail market is significantly short though anything other than an extreme. However there will be stops and if they start popping the price action will move very swiftly to the longside.
      Anyway it could go either way though I do prefer being long.

      Liked by 1 person

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