Short idea above the 1.1550 support
This is what I see.
EURUSD started trending up unexpectedly short after Trump's taking of the office, after a volatile and uncertain period. You can see the same sideways in the most important, US-tracking ETFs (QQQ, SPY, ecc) too, during the same period I am referring (prior to Trump's election).
What I see is: holding cash is an effective way to control risk in uncertain times; but when the risk is remunerated as much US stocks can, holding cash is detrimental.
The contingency of general economic growth, long awaited by the markets, helps consolidating the trend.
Thus, allocating dollars in assets and holding euros as a hedge is a reasonable bet. In the end, I feel EURUSD is to keep rising in the long term.
For the short term, I am shorting the red line, checking BOLs and RSI.
EURUSD started trending up unexpectedly short after Trump's taking of the office, after a volatile and uncertain period. You can see the same sideways in the most important, US-tracking ETFs (QQQ, SPY, ecc) too, during the same period I am referring (prior to Trump's election).
What I see is: holding cash is an effective way to control risk in uncertain times; but when the risk is remunerated as much US stocks can, holding cash is detrimental.
The contingency of general economic growth, long awaited by the markets, helps consolidating the trend.
Thus, allocating dollars in assets and holding euros as a hedge is a reasonable bet. In the end, I feel EURUSD is to keep rising in the long term.
For the short term, I am shorting the red line, checking BOLs and RSI.
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