BK. BIG TRADES close EURUSD Here at 10885 +60 on trade we will reload later
Sell EUR/USD on a BREAK lower at 1.0945 TRIGGERED
BIG TRADE ALERT -Sell EUR/USD on a BREAK lower at 1.0945
If this order triggers, place another order to sell at 1.1165
Stop on the whole position at 1.1270
After a strong counter trend rally its time to get back into EUR/USD shorts. With Greece still unresolved and none really certain as how a Greek bankruptcy would affect the Eurozone the market is much too complacent about the risks in the pair.
Add to that the fact that the Fed clearly wants to hike and is just looking for better data to finally start normalizing monetary policy and the pair could be in for another fall that could send it to a retest of the yearly lows at the 1.0500 level.
However, the market dynamics remain uncertain for now so we only want to sell the EUR/USD when its starts moving in alignment with our thesis, so we will be selling the pair only on the break lower