Still bullish USD and looking to short EURUSD

In tonight’s video I talk about why I’m still bullish the US Dollar and looking to short EURUSD.

Please note that in the video I mention I have already started a short position. I’ve taken that off for a tiny profit, as I’m not sure we’re quite ready to roll over yet. 

Here’s a look at the 15-min chart and why I think we might be heading a bit higher yet:

We’re essentially consolidating this last leg higher and hanging out above the previous resistance zone. The 50 and 100-bar SMA’s have crossed the 200 and the 50 is nearing current price, likely to be supportive.

I’ve actually taken a small long at these levels, targeting just a 40 pip move for now. In short, although I’m overall bullish on the US Dollar, and therefore bearish EURUSD, I don’t see any clear signs to start that short position just yet. 

Geppy

I've been involved in the forex markets for over a decade, initially starting as an FX trader at Allston Trading in Chicago. Eventually I went on and founded my own (non trading related) company. I spend my days working from home and trading forex, equity, and crypto markets.

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