A couple of days ago the robot was long on EURUSD and closed the trade near the top, the EURO market has changed direction but I believe this to be a pullback on the 4-hour chart looking for a further long. Alternative scenarios are that it breaks low and begins a new downtrend.
A lot of pairs are currently in pullback and I would imagine if EURUSD decides to go forwards we could see new highs even breaking January’s high.
EURUSD Bull run over?
Although market sentiment appears bullish still. I understand that the UK Government is making noises about Brexit that could put uncertainty back into the market. Especially after a car-crash news interview recently where Boris Johnson said we wanted to be like another country. Who only have WTO trading rules anyway – the default position if we crash out with no deal (which looks quite likely now).
My feelings are that we will run out of time, crash out with no deal which will hit GBP and EUR although no one knows how unless it’s priced into the market.
The EURO is very high at this point – which means a high risk of reversal. I did speak with another trader albeit on a forum this morning who was HOLDING A LONG!!!!. Not time yet.
Chart’s courtesy of StrobotUltimate
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