EUR/USD back to selling mode :p
What a crazy weeks. I kinda shocked to what happened in the market recent days. After suprised with 1000 point drops of Dow Jones Index, today i suprised again with the news of $1 trillion package to save euro. Both Currency and Stock move like roller coaster. It’s up and down severely. The best strategy to used in this situation is the follow the first big wave movement and take profit after it reached decent profit. I used this in forex market.
The first big wave of EUR/USD is a buy position. The result i get is not that good. I made 2 losses and the profit couldn’t covered the loss. But the second signal of big wave come again. It’s sell position on EUR/USD. My first trade is bad trade, but the rest are good ones.
Let’s see the EUR/USD Weekly chart right now :
As i mentioned in my previous post, EUR/USD support line will be at 1.2547 level. And it really rebound after touched that support line. The question right now is where the EUR/USD will go? There is 2 possibilities. Both of them is a downtrend scenarios.
On Daily Chart :
Chart on downtrend chanel, and it’s still on bearish mode. Personally, i prefer to take only sell position on EUR/USD right now.