EURUSD 2017 outlook
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In my previous post I warned about ending diagonals not being over. Since EURUSD is in another round of a complex corrective pattern (this time of lesser degree) I will show my two most likely scenario's. Key however is to trade it step by step if you want to trade EURUSD. Starting with a possible short. As of next week I will update this pair on a daily bases to show you my way of analyzing and trading (this doesn't mean there will be a trade every single day for EURUSD).
Personally I believe that Europe will be the next big surprise but this time in a positive way. Those who have experience with the bigger picture when it comes to Inter Market Analysis might understand why. I seriously consider a last bearish impulse towards parity to be possible but Europe is doing way better than most retailers realize. The biggest risk will be politically, but if Europe doesn't follow the US in terms of who comes to power, the fundamentals are way better in Europe than the US and a lot of money might flow into Europe.
I realize that Forex and manipulation goes hand in hand, but I have enough experience both as a professional and an independent trader to understand that Forex is also relative. Both technically and fundamentally it is time to respect that relative dynamic (you buy dollars and sell euro's, we are not trading stocks).
To conclude; 2017 is expected to be an exciting trading year after a boring 2016 when it comes to this pair. That's why it is worth analyzing it more actively once again. Especially for those who trade with another base currency than the currency they pay their daily expenditures with.
Personally I believe that Europe will be the next big surprise but this time in a positive way. Those who have experience with the bigger picture when it comes to Inter Market Analysis might understand why. I seriously consider a last bearish impulse towards parity to be possible but Europe is doing way better than most retailers realize. The biggest risk will be politically, but if Europe doesn't follow the US in terms of who comes to power, the fundamentals are way better in Europe than the US and a lot of money might flow into Europe.
I realize that Forex and manipulation goes hand in hand, but I have enough experience both as a professional and an independent trader to understand that Forex is also relative. Both technically and fundamentally it is time to respect that relative dynamic (you buy dollars and sell euro's, we are not trading stocks).
To conclude; 2017 is expected to be an exciting trading year after a boring 2016 when it comes to this pair. That's why it is worth analyzing it more actively once again. Especially for those who trade with another base currency than the currency they pay their daily expenditures with.
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