Heads up for the EUR buyers...
Most of you have probably started to buy some EUR lately thinking EURUSD is bottoming out and an uptrend is beginning, but beware because further in depth analysis is telling us the bottom is nowhere near for the EUR.
Bunds (Second chart) are edging higher and EUR is lagging the move only because of some USD weakness which seems to be more a technical correction rather than a trend change, when the correction will be over? a technical breakout of the DXY flag (Third chart) will be the first sign followed by a technical breakout of the Euro Index wedge.
Fundamentally the Coronavirus spreading in Europe will be the catalyst for a push lower for the EUR once the Euro area slowdown materialize, same for the Chinese slowdown, Europe is more exposed to a Chinese collapse than the US
Most of you have probably started to buy some EUR lately thinking EURUSD is bottoming out and an uptrend is beginning, but beware because further in depth analysis is telling us the bottom is nowhere near for the EUR.
Bunds (Second chart) are edging higher and EUR is lagging the move only because of some USD weakness which seems to be more a technical correction rather than a trend change, when the correction will be over? a technical breakout of the DXY flag (Third chart) will be the first sign followed by a technical breakout of the Euro Index wedge.
Fundamentally the Coronavirus spreading in Europe will be the catalyst for a push lower for the EUR once the Euro area slowdown materialize, same for the Chinese slowdown, Europe is more exposed to a Chinese collapse than the US
For the intraday traders in here that want to scalp the day, a decent opportunity is in USDJPY shorts, retails have been building massive long positions that are now getting squeezed, their stop loss will be at 108.25 expect it to be hit today.
The first chart is an 1H showing where the retail stops are and how the trendline buyers are now trapped and getting squeezed, second chart is a 5m
The first chart is an 1H showing where the retail stops are and how the trendline buyers are now trapped and getting squeezed, second chart is a 5m
Just an update for USDJPY, we sent the order to our Private Network members and price hit exactly our entry so some have been filled and some haven't, anyway structure has evolved and it's now a clean bearish flag accumulating orders before the break, our entry hasn't been filled by our broker for 0.01 pip but price might make a third leg up before the final drop, or just break the flag and go to target.
BeSomebodyFX
For the intraday traders in here that want to scalp the day, a decent opportunity is in USDJPY shorts, retails have been building massive long positions that are now getting squeezed, their stop loss will be at 108.25 expect it to be hit today. The first…
Don't forget to take your profit at 108.25
Feel like March seats for the private network will run out in a few hours this weekend, we are going to open 5 seats, if you don't want to lose the spot contact @JayRally to book a seat
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Ask yourself these questions, did that provider have the transparency to offer their clients a tamper proof way to review their service? Secondly, do they actively encourage their clients to engage with each other in a chat room? and lastly, do they have a way to track their performance that is not fake weekly pip counts? if the answers are no, drop us a message.
Search for us on Trustpilot and read for yourself what our clients have to say...
https://www.trustpilot.com/review/besomebodyfx.com
We are cheaper than a stop loss and we can make the difference in your trading, do you want to trade profitably like us and our private network members?
Then join the BeSomebodyFX Private Network to learn while you earn with us and finally trade comfortably with professionals.
ONLY 5 seats (one already booked) available for March...
Text "I WANT TO JOIN" to @JayRally