After the massive short squeeze in EURUSD on thursday, when ECB decided to disappoint the market without introducing stronger QE. On the short term technical level, there could be another final wave of short squeeze to 1.1100. The 1.1100 blue zone represents a significant price level. It is a strong support/resistance for the whole of year 2015 since Jan.
On the fundamental level, the story in EURUSD & Euro remains the same. The economy is weak, ECB is still continuing with QE. So on the longer term basis, EURUSD remains a fundamental short.
If EURUSD rallies further to this price zone, look to enter short.
Short EURUSD 1.1100-10
SL above 1.1150
TP 1.0800
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www.ForexPositive.com
Twitter @ForexPositive
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On the fundamental level, the story in EURUSD & Euro remains the same. The economy is weak, ECB is still continuing with QE. So on the longer term basis, EURUSD remains a fundamental short.
If EURUSD rallies further to this price zone, look to enter short.
Short EURUSD 1.1100-10
SL above 1.1150
TP 1.0800
=====
www.ForexPositive.com
Twitter @ForexPositive
=====