Minor Support level at fibo 50% 130.500 Have been breached and price crashing fast!
One of my Short EURJPY just hit my 1st target. Retest of 131 Major level have failed, upon breakout of 130.500 price level, buyers seems to have given up, price are headed towards 130.00 fast.
Price to test major fibo 50% level at 129.600?
Adjusted all my stop loss to 130.001 price level.
Currently, i have 2 EURJPY position. One from last week, aiming to break even at least. One from this morning, targeting 130.199
Price retraced after hitting my target at 130.399, golden opportunity to re-enter position. Just entered another 3rd position aiming 130.499
Earlier while working managed to adjust stop loss to 131.301 in the nick of time. Amazingly price experienced heavy retracement. Choppy market, buyer and seller fighting copiously. Market currently consolidating.
Last Thursday, Mario D gave an optimistic outlook and spur the Euros despite disappointing fundamental data and Italy’s mess. Technically, it doesn’t make sense for Euros to move North.
Later during European open. Will Mario D continue to instill an optimistic outlook or say stuff like implementation of plan will be “Graduuaal” or it is the ECB “mandood” to achieve “inflasion” targets? Will he risk looking like a fool during his speech later during European session opening or will he allow Technicals nature to take its course? Every sign tells me it will be the Latter. Let’s all Short and Hammer the Euros!
Mario D speech summary, Euros is deadmeat today!
Mario speech is all about risk! I believe the current weekly candle for EURJPY will be a bearishly closed down candlestick! Chief finally decided to go with the flow of Low tide. If that speech does not destroy confidence on Euros, what else can?
First wave of attack by European open traders, now second wave of attack by London open traders about to begin… stay tune! All in everybody. This is not the time to hesitate! Short EURJPY now.
Tell me why would anybody buy EURJPY after Chief gave obvious hint to short Euros? There will be No buyer!! It is not possible. Buyer will book profits. Mario deliberately Prime the Euros for a major selloff this week.