No EUR/USD Parity?
Alexandros Yfantis | Aug 28, 2017 10:55AM ET
I miss the days at 1.04-1.05 when EVERYONE was screaming parity and 0.90 for the EUR/USD. It seems so far in the past with the pair just a few pips away from 1.20. Now that everyone is bullish again, I say it's time to tighten our stops and be cautious. The EUR/USD has been rising steadily inside a bullish channel since late 2016. Since then, we see it making higher highs and higher lows.
The key level for the bullish trend is now at 1.1725. Fail to hold that point and carnge will reign. Everyone trapped above 1.18 will then look to sell. As of now, the trend I see is still bullish BUT I believe we are not far from making an important high and a reversal.
Today we closed our EUR/USD longs at 1.1950, which doesn't mean EUR/USD won't go higher. I just believe my money can produce more elsewhere.
Thank you for taking the time to catch up on my thinking.
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