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:

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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:

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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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The US dollar fell in European forex trading, after stronger-than-expected data from China and Germany gave forex traders some confidence and can-do, risk-on, “hope and change” kind of attitude. The EUR/USD forex pair reached 1.2807.
Later on, however, as US forex folks came in, we saw EUR/USD come down to 1.2710. At the time of writing it is sitting at 1.2716
When will it break under 1.26? After the two attempts in the last two days, it’s a matter of time now…

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After yesterday’s short squeeze which continued well into late Asian trading, the EUR/USD forex pair has eased back under 1.28. That is, of course, good news for my short position.

Definition of a Short Squeeze in the forex market:
A situation in which a lack of supply and an excess demand for a currency forces the rate upward.

Here’s the hourly chart of the Euro/Dollar forex pair as of now:

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Hello and Happy New Year everyone!

My EUR/USD short trade is going well so far…

Here’s the daily chart of the Euro/Usd forex pair as of now:

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