EURUSD 29 Sep 2020 - Trade mode: Do not get caught in trap!
Not legal and financial advice; any information provided here is only the personal opinion of the author.
Cheers!
Cheers!
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So, as you can see disposition is clear. Banks bidding at 1.1660/1.1630 and 1.16 trying to push market higher and to structure short positions. In fact fiber can not even get over 1.1687 and this is dangerous for upside. I closed macro long yesterday at 1.1674 due to expectations of further unwind of USD shorts in coming weeks. My playground sell on spikes with core short atm. Once banks with one click of a mouse cancel all buy orders market will loose depth while 1.16 is a key level on daily/weekly basis. Unfortunately there is no real support between 1.16 and 1.1384/1.1247 and things can change quickly. Take care. Trade well.
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