Quote:
Originally Posted by fxaprendiz
Hey guys!
I just got online to see the USD finally getting stronger, or is it less weak? hehe.
Not to be a party pooper, but a bearish bat just formed in the USD/CHF pair, and while there's no fractal in the eurodollar, there's a confluence of 3 Fib levels in the 1.4000-25 area.
As a disclaimer, I'm long term bearish on euro and bullish on usd/chf, so I'm happy the way things are so far, but for now I'll use hedge trades until I see validation or break down of the fractal and fib supports. I have left slip good profits in the past expecting things to go straight. Not this time.
I'll post charts in my blog in the next couple hours, I hope. In short, I expect some consolidation/retracement in both pairs in the next couple days before the USD resumes its comeback.
fxaprendiz out
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I drew the charts and you can see them in my Fibonacci thread here:
http://forexforums.dailyfx.com/316273-post14.html
I hope that helps you in your decision process, not the opposite.
imho Euro it's going down for some months, but obviously it won't be a straight line. This might be the first bump on the road.
Be happy everybody!
