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Downtrend Confirmation on EUR/USD

January 29th, 2010 Leave a comment Go to comments

For you who follow EUR/USD movement, it’s seem clear enough to make sure that the downtrend signal on EUR/USD already confirmed. I personally already take sell position on EUR/USD since last week. Today, when i am browsing on currensee, i found some interesting statistic. Most of traders have long position on EUR/USD and still hold them with floating loss. Here is the data :

Although 69% volume of traders hold long position on EUR/USD and suffer a floating losses, it’s great to know that most member of my team on currenseee take the opposite (sell position). So it’s important to know what other traders doing especially from trader you know can make profit consistently from the market. I share some trades with some traders i know can make profit consistently. By sharing analysis, we can have wider perspective about the market.

We already saw strong signal on Dollar Strength last month. And seems it continue to rise. Let’s see the chart

From the pattern, it can be seen that Dollar continue its uptrend movement. So i keep my view to trade on sell side of EUR/USD. So better watch this pair carefully. I recommend you to trade only sell position on EUR/USD. Wait some strong rebound to enter sell position is a very good risk / reward setup on this market condition. Happy Trading….

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