EUR/USD short: Is the technical correction complete?
Hello traders
I don't have a lot to say today. Big surprise.
I broke two cardinal rules of trading when I entered into my short position. I was mentally anxious about my upcoming spine surgery and I did not do my homework properly. Despite this poorly timed short entry, I reconsidered and kept my stop at 1.0545(give the 1.0534 high some breathing room). So, still in business.
The technical indicators tell the story in this post. I believe that this was nothing but a technical correction.
Fundamentally, nothing has changed. The ECB is expected to cut and the FOMC expected to hold. Since the FOMC has the first opportunity to present to the markets, watch Chair Powell's press conference, no matter which time zone you are in. Likewise with the ECB 17 hours later.
On the home front, Trump has started his "mass deportations" in Chicago and slapped tariffs on Colombia. Stock up on your coffee beans folks. Oil is a two trade, crude from Colombia, refined petroleum to Colombia, so I am not sure how that will be affected. Our esteemed oil traders on TV will have the lowdown. This will stoke the inflation fears again which benefits the USD.
So, buckle up. It is going to be a wild ride this week.
Best of luck.
I don't have a lot to say today. Big surprise.
I broke two cardinal rules of trading when I entered into my short position. I was mentally anxious about my upcoming spine surgery and I did not do my homework properly. Despite this poorly timed short entry, I reconsidered and kept my stop at 1.0545(give the 1.0534 high some breathing room). So, still in business.
The technical indicators tell the story in this post. I believe that this was nothing but a technical correction.
Fundamentally, nothing has changed. The ECB is expected to cut and the FOMC expected to hold. Since the FOMC has the first opportunity to present to the markets, watch Chair Powell's press conference, no matter which time zone you are in. Likewise with the ECB 17 hours later.
On the home front, Trump has started his "mass deportations" in Chicago and slapped tariffs on Colombia. Stock up on your coffee beans folks. Oil is a two trade, crude from Colombia, refined petroleum to Colombia, so I am not sure how that will be affected. Our esteemed oil traders on TV will have the lowdown. This will stoke the inflation fears again which benefits the USD.
So, buckle up. It is going to be a wild ride this week.
Best of luck.
交易進行
Sorry about the Monthly chart comment. It should read ...and now retest is "WHAT" makes this level significant.
Maybe time for ChatGPT...
註釋
Trade is still active. Perfect daily doji candle. DXY support held. US10Y touched support and reversed. Price just breached 4H support at 1.0434手動結束交易
I closed my long trade at breakeven. Chair Powell poured a bucket of ice cold water on my expectations for EUR/USD pushing higher. Can't see how the ECB will change the landscape. 
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