This is a bit of a preemptive look at EUR/USD ahead of a potential bearish move.
We are close to a bearish Kumo Twist and chikou span is trying to get below price.
I am looking for a bearish kumo breakout as my last confirmation to get short.
We have a very long term target I'm looking at but I've drawn out several levels to take partial profit or look to add to the position.
It will be interesting to see how this progresses with the effect from Covid-19 and the hits taken by the economy around the world.
When considering most of the worlds currency is pegged to the dollar it would make sense that despite the loss of jobs in the US from business closures during this time, it makes sense that the dollar will eventually strengthen again.
If we fail to get our bearish breakout, or if our bearish confirmations change, this setup may become invalidated.
We are close to a bearish Kumo Twist and chikou span is trying to get below price.
I am looking for a bearish kumo breakout as my last confirmation to get short.
We have a very long term target I'm looking at but I've drawn out several levels to take partial profit or look to add to the position.
It will be interesting to see how this progresses with the effect from Covid-19 and the hits taken by the economy around the world.
When considering most of the worlds currency is pegged to the dollar it would make sense that despite the loss of jobs in the US from business closures during this time, it makes sense that the dollar will eventually strengthen again.
If we fail to get our bearish breakout, or if our bearish confirmations change, this setup may become invalidated.