And I thought it was finally starting to roll down the hill. I guess we gotta wait a li’l bit more.
That’s the 4-H chart of the EUR/USD forex pair as of now:
Just about an hour passed since my last post, and the grizzlies have fully dominated the euro bulls especially as S&P came out with a headline reading “Greece would in all likelihood would qualify as a default”. Of course, it’s not a secret what these guys tell us; we just don’t know when exactly is Greece going to default and how messy (and contagious) will the default be.
Here’s the 4-hour chart of the Eur/Usd forex pair as of now:
Not as of writing this post but they are dying out little by little. For more than 20 hours it’s been a game of tug-of-war between euro bulls and euro bears. Of course, I have sided with the euro bears back when I opened my short from 1.3271 more than a month ago.
You can readily see the bull-exhaustion candles on the 4-hour chart of the euro/dollar forex pair:
Does that mean I should I close my short position? Surely not! I am still convinced that the euro is in for big trouble. Moreover, my stop loss is at breakeven…
Here’s the daily chart of the Euro/Dollar forex pair as of right now:
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