EUR/USD Bullish or Bearish?

So I have an open position on the EUR/USD and its in a buy position but its down negative 100pips.
What do you all think will happen next week should I close out or ride for the green?

I cant tell you what to do but I expect it to turn bullish sometime soon, given the indicators and news…

Draghi turn to be dovish in the last meeting. Keeping an open long position at the moment seems pretty risky to me.

Spooky, I’m guessing you called the bottom on July 3rd at London open, if you called it the next day then that would have been a bad call because 2930 had been support and price was coming up from below that.

2930 was a reasonable call on the third, worth the 30 -50 pips against the 1hr trend (actually went to 80 pips), but reality says that when against the trend you must have a sensible tp limit, maybe your tp was open.

Long time since been facing minus 100pips, used to try averaging down, that would work in about 1 in 3 cases, the other 2 would only add to the losses - so do not do that.

Mall could be right, the bottom could be now, however I know that I would look very closely at 2880.

Your question is maybe the most thought provoking in a long time - damage limitation.

A long time retired bank trader went ‘out on his own’ as a retail trader, a big learning experience for him. On one of his early trades things went wrong and he was down X pips.
He spent the entire night nursing his position until he could exit with a lower loss - it was on a demo.

currently eur/usd is in the consolidating phase…
most likely it’s better to buy low sell high at this stage…identify tops and bottoms of formations then go from there…
this pair most likely wont be in a long trend til coming years!
before you enter a trade you should have made an exit plan…
an entry without an exit strategy is considered a failure in my book

also once eur/usd breaks thru 1.275, it could turn into bearish trend for a short while…
if i were u i would make a stoploss at around 1.275 area

2880 reached - now only 50 pips down but at a critical point.

I think the long term, it should be bullish