EURUSD Bull then Bear

2020年10月6日

EURUSD has been overbought as we all know. I do not foresee it creating any higher highs.

Indicators:
1. We currently still have a demand zone that has not yet been reached yet.
2. EUR govt has announced they want a weaker currency.
3. Monthly Outlook - Bearish with strong sell RSI.
4. Election in USA causes volatility and uncertainty. Once that is complete USD should adjust again.

My personal trades would only be sell directions with a pending at the supply zone and a pending at the backside of the down trend line.

Best of luck and let me know if there are any questions.

Charles V
CVFX Management
Trading made Simple

2020年10月7日

註釋

Backside of downtrend line has been hit, good buy entry for those looking to buy to the supply zone. Just make sure you have a short stop loss if the down trend line breaks. Otherwise my bias is still sell only at the prime spot, Supply Zone.

2020年10月8日

註釋

Watch for the 1.1800 area. This is acting as a resistance area and price may just range around this for a while.

2020年10月13日

註釋

Price has bounced off 1.1800 area, past resistance and fell sharply. Will update idea in Tokyo session tonight.