We are leaning to a bearish DAX due to it
However we see two scenarios that could play out and will wait for confirmation of break of either Trendline (Blue or Black) on the Daily time frame.
We are already long on USDCAD on break above the Blue Trendline
WAIT FOR CLOUD BREAKOUT (Cumulus Formation means strong possible resistance)
Hey Traders! Recently markets have been chatting alot about the Greece Debt Crisis and markets have been really emotional on the response of tiny details coming out daily and weekly. "Greece & IMF Meet", "Germany has heated words with Greece." "Greece walks out of meeting." "Greece stops for lunch!"
Okay maybe not that last one so much, but you get our point. The bigger picture is this is a large deal because it will have very large global effects. Greece owes $400,000,000,000.00 ($400 Billion) in debt, +100% more than what they make. Check this video out for a better understanding. And keep your eyes out for opportunities and how to prepare for a debt default or bigger bailout. - Remember, Keep your head in the Clouds. -
So this is a update to our post from yesterday on EURJPY. We had a neutral stance on it because it was planted in a wedge just below the top of the Cumulus Cloud Formation.
We have now taken a long on its break of the Cloud + Lagging line above the cloud & price. It didn't break with much momentum however has upside targets of 140.862 Our stops are following the Kijun-Sen (seen in Orange) @ 139.00 - Remember, Keep your head in the Clouds -
Not currently long, waiting for confirmation of Lagging Line to break price and price to break the Cumulus Cloud formation.
Our overall view is Neutral. Wait until clear break of this Cumulus + Lagging Line Confirmation. Potential in this trade on pick up of volume.
Have not taken a position on this yet, waiting for Lagging Line to break the Cloud formation - Remember, Keep your head in the Clouds - CurrencyClouds™ |