Hello Traders,
I hope you had a great weekend. The new trading week is almost starting. In less than 4 hours GMT time the Asian session is opening and new trades might present a chance for another bearish/bullish trends. I am still bullish on the EUR/USD and hence will open another buy position. Let me show you once more why. The momentum is rising again and the price broke the 10 and 50 day moving averages. As I mentioned earlier, I am aiming at the 200 day moving average which currently lies at the 1.09 price level. Therefore, I am expecting the pair touching this price level by the end of the week. I am also short on the USD CAD. the reason is straightforward. Last week's drop indicates that bulls are unable to sustain the momentum. You can see that the drop almost offset a whole of trading gains which tells me that the bearish signal is indeed strong and deep. This is it for now and let's see what will happen.
Best Wishes,
Georgi
I hope you had a great weekend. The new trading week is almost starting. In less than 4 hours GMT time the Asian session is opening and new trades might present a chance for another bearish/bullish trends. I am still bullish on the EUR/USD and hence will open another buy position. Let me show you once more why. The momentum is rising again and the price broke the 10 and 50 day moving averages. As I mentioned earlier, I am aiming at the 200 day moving average which currently lies at the 1.09 price level. Therefore, I am expecting the pair touching this price level by the end of the week. I am also short on the USD CAD. the reason is straightforward. Last week's drop indicates that bulls are unable to sustain the momentum. You can see that the drop almost offset a whole of trading gains which tells me that the bearish signal is indeed strong and deep. This is it for now and let's see what will happen.
Best Wishes,
Georgi
