- Today we had another consecutive fundamental datas from European countries to boost EUR to a very high sentiment, on top of that, Donald Trump came out with another comments to further push dollar to the negative sentiment territory. Right now the USD has been very volatile and tomorrow the FOMC meeting will be more volatile and might even provide more conflict between the White House and the FED. Although fundamentally speaking USD still has better strength than EUR, but now the uncertainty of USD versus the uncertain element of Eurozone has completely taken a shift. Now investors are more worried for the future of U.S regardless of the fundamental strength. We think the current sentiment of EUR might keep going for sometime unless we have something ver negative to turn it around, otherwise what’s been known has been known for EUR and that has further removed the uncertainty and hence made EUR become very attractive currency to buy. On the other hand USD has been very volatile and the uncertainty has built up day by day from Donald Trump himself, also the White House now has a clear agenda to devaluate the USD for a better trade deal for U.S. No matter whether he can achieve that goal or not, we think in the short-term the USD will at least be “talked down” and that will be a good catalyst for us to enter. Today we also have a strong Bullish Big Shadow which broke out and closed above the zone that we haven’t tested since Nov 2016. Because of all these, we want to take this Daily Trade. But because of the uncertainty of USD and tomorrow’s FED event, we’re going to use intraday for better execution for this trade and move SL to BE or get out before the FOMC meeting tomorrow afternoon.
- The catalyst was the Eurozone datas, the Donald Trump comment and daily signals.
- We’re still at intraday pp level now but we’ll have to see where we’re during the London session and only get in if we have a good range to go.
- The risk is to get in EUR/USD at high when there is no more room to go and only to be stopped out by new traders who want to price in for FOMC to short EUR/USD, to prevent that we will only get in at proper range.
- I’ll manage it with updates on the news.
- Yes i’ll get in but only if we have an hourly single at proper pivot levels.
depends on the Hourly Chart Range and Signal later on in London Session
****there was no signal during London session, no trade****