EURUSD is at a crucial point this week, because is breaking MA 100.
The break of MA 100, together with higher highs and higher lows that have formed in the last period, can be a confirmation for a trend reversal, BUT...
In February this year, the price has break thru MA100, and it turned out to be false break, with a huge fall for EURUSD since than, and this new uptrend that is forming, it looks like a flag pattern consolidation.
IF this break thru MA100 will turn as a false break, and if we take in consideration the flag pattern, than we can have best SHORT trade for the rest of the year.
Other argument to sustain a short position on EURUSD, is the world economy imbalance. Even though there is allot of effort putted in to regain the balance, as long as there will be political tensions between world most powerful countries, and the war in Ukraine is not coming to an end, USD might just keep rising.
Don't Stumble Trading. Trade Safe!
The break of MA 100, together with higher highs and higher lows that have formed in the last period, can be a confirmation for a trend reversal, BUT...
In February this year, the price has break thru MA100, and it turned out to be false break, with a huge fall for EURUSD since than, and this new uptrend that is forming, it looks like a flag pattern consolidation.
IF this break thru MA100 will turn as a false break, and if we take in consideration the flag pattern, than we can have best SHORT trade for the rest of the year.
Other argument to sustain a short position on EURUSD, is the world economy imbalance. Even though there is allot of effort putted in to regain the balance, as long as there will be political tensions between world most powerful countries, and the war in Ukraine is not coming to an end, USD might just keep rising.
Don't Stumble Trading. Trade Safe!