Did Euro fakeout?

Euro reached new high but is this a pop and drop?

Euro cannot decide what to do even though it is desperate to continue it's uptrend. While this broke to new highs yesterday I was on the phone with someone and this breakout came up in the conversation. Most of the dumb money will buy the Euro when it broke into new territory and we have witnessed many many times that this is a fake breakout and the market reverses on the next bar.

We dont know if this is a fake out and nor do we care. If it continues the uptrend the we will get triggered into the trade with our EST. Until then while everyone else is in a panic state and analysing their chart reaching a point of paralysis of analysis, we can sit back and wait for the market to take us into our position. The current long entry point is about 1.6069 but that could change tonight.

Good trading.

Forex Analysts
Javid Shaik & Anne Chapman