A trendline dating back to mid-2010 has given the EUR/USD traction. Yesterday I observed that retail trading activity had hinted of a near-term base. This has
been complimented by Monday's price-action, which highlights a falling
wedge. Typically, these type of formations are bullish and with "big
speculators" short positions at an extreme and the retail crowd set to
sell into rallies, I think the stage is being set for a short squeze
rally.
No comments:
Post a Comment