I miss the days at 1.04-1.05 when EVERYONE was screaming parity and 0.90 for the EURUSD. It seems so far in the past right now with just a few pips away from 1.20. Now that everyone is bullish again, I say it is time to tighten our stops and be cautious. The EURUSD has been rising steadily inside a bullish channel since late 2016. Ever since we see it making higher highs and higher lows.
Key level for the bullish trend now is at 1.1725. Fail to hold it, and all hell will break loose. Everyone trapped above 1.18 will then look to sell. I see the trend is still bullish. BUT I believe we are not far from making an important high and a reversal.
Yesterday we closed our EURUSD longs at 1.1950. This does not mean that EURUSD cannot go higher…I just believe my money can produce more elsewhere. Thank you for taking the time to catch up on my thinking.
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