What?no EURUSD parity now?

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August 28, 2017
Forex Tuesday
August 29, 2017

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.

Today 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.

 

Alexandros Yfantis
Alexandros Yfantis
Fascinated by financial markets, studied International Securities Investment and Banking in the UK, works as a Portfolio Manager in Greece and runs a technical analysis website. Enjoys travelling and spending time with his family and preparing for the black belt in Korean Karate.