Signal #7 Sell EUR/USD at Market...
Ok fellow traders with the markets remaining anemic and sideways I have issued signal #7 at the 1.3796 level and am looking for 20 pips. At this level it should be easy enough to obtain the target at a reasonable time frame unlike Signal 6 which is still running. So 1.3776 is the target or you can simply let it run to signal 6 target if you wish?
You see drawdown in a sideways market means little to nothing. It simply states that the powers that move the markets want the market where it is for whatever reasons.
When you look at the currency pair on the weekly chart that I have provided for you it is quite obvious that this pattern is nothing more than a very large corrective pattern. For the past three months the currency has stayed in a 350 pip range. For the past three years it has stayed in five different 500 pip ranges of which has not exceeded 1000 pips in total. If this is not a sideways market then I don't know what is.
The other questions that you have to ask yourself is "WHY' would the Eurozone want a strong currency in the face of deflationary forces (which I might add are still in play). It does not help most of the countries but rather it hurts all of them with the exception of Germany. Italy teetering on the brink of bankruptcy wants a strong currency?
Give me a break.
I know the EUR/USD is going to collapse downward after this sideways move which is more punctuated by the Dollar than it is the Euro so patience is the key.
You see drawdown in a sideways market means little to nothing. It simply states that the powers that move the markets want the market where it is for whatever reasons.
When you look at the currency pair on the weekly chart that I have provided for you it is quite obvious that this pattern is nothing more than a very large corrective pattern. For the past three months the currency has stayed in a 350 pip range. For the past three years it has stayed in five different 500 pip ranges of which has not exceeded 1000 pips in total. If this is not a sideways market then I don't know what is.
The other questions that you have to ask yourself is "WHY' would the Eurozone want a strong currency in the face of deflationary forces (which I might add are still in play). It does not help most of the countries but rather it hurts all of them with the exception of Germany. Italy teetering on the brink of bankruptcy wants a strong currency?
Give me a break.
I know the EUR/USD is going to collapse downward after this sideways move which is more punctuated by the Dollar than it is the Euro so patience is the key.
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