Now Reading
Euro Campaign
140

Euro Campaign

by The MoleDecember 14, 2017

Okay, it seems like the EUR/USD is on the brink of breaking out plus as you recall my hands are thrashed, so I’m posting this with minimal fluff or entertainment value and then fill in the post with additional analysis and thoughts over the coming hour:

2017-12-14_EURUSD_LT

The long term view on the EUR/USD is still looking solid after this morning’s deposit rate decision, much to my overall chagrin I must say. But it is what it is and the current touch of the 25-week SMA seems like a picture perfect entry opportunity to me. Should it fail then it opens the gate to a much more pronounced sell off, which given the current general sentiment appears to have pretty low odds.

2017-12-14_EURUSD_entry

The short term panel is already in break out mode and we’re now in one of those 50:50 situations, purely on a short term basis I must emphasize: Either it runs off here and the spike low on the hourly remains untested OR we drop back all the way to the 100-hour SMA near 1.178. From there we may be able to stage another entry but that’s pure sci-fi at the current time. For now I’m long ere with a relatively generous stop < 1.1793. Let’s see what happens.

UPDATE 9:05am EST: Interestingly we are now seeing a strong seller that’s producing a bit of a tug-o-war between sellers and buyers:

2017-12-14_EURUSD2

Being a bit annoying of course after taking out a long entry I’m a bit surprised as I don’t see any compelling news related reason for this, so perhaps something else is going on. IF you’re lucky and are catching this late then know that a long entry remains permissible until about 1.176. After that the odds start to shift to the bears, with confirmation of course < 1.172.

evil_separator

It's not too late - learn how to consistently trade without worrying about the news, the clickbait, the daily drama and misinformation. If you are interested in becoming a subscriber then don't waste time and sign up here. The Zero indicator service also offers access to all Gold posts, so you actually get double the bang for your buck.

Please login or subscribe here to see the remainder of this post.


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
Enjoyed this post? Consider a small donation to keep those evil deeds coming!

BTC: 1MwMJifeBU3YziDoLLu8S54Vg4cbnJxvpL
BCH: qqxflhnr0jcfj4nejw75klmpcsfsp68exukcr0a29e
ETH: 0x9D0824b9553346df7EFB6B76DBAd1E2763bE6Ef1
LTC: LUuoD6sDWgbqSgnpo5hceYPnTD9MAvxi6c
PayPal: https://paypal.me/evilspeculator