Euro/Dollar: top done?
EURUSD forecast for traders Euro/Dollar: top done?
Yes there are a lot of probabilities that one important maximum (1.1470) has been done. The dollar is going to appreciate against the euro next weeks. We think this could be an 80% success rate trade. 1°factor: technical analysis. (now we have the technical analysis confirm.)
(a) This is EurUsd 1d (first medium term):
(b) then the short term graph, look the (broken) bearish head and shoulder pattern:
2° factor: fundamentals: the 'OK' from Fed and BCE. The sentiment is that the BCE is going to increase QE, the FED to increase interest rate. Results of techincal? Bullish for dollar, bearish for euro. Resuts of fundamental? Bullish for dollar, bearish for euro. Stop Loss and Money Management We know that we can be wrong (80% is not 100%) so we have to protect us with stop loss (1.1400 or 1.1480) and we have to risk a little part of our equity (2%). You can enter now SHORT on EUR/USD or wait for a possible retest of the broken neckline (1.1270) Target? The support of the channel first (a image), and if the price will broke it... ONE.