Happy New Decade and the Euro.

Good afternoon Dynamic Traders,

May I take this opportunity to wish our mentors, bloggers and readers all best for this new trading week, of a new trading year, of a new trading decade, and to hope it is a very prosperous one and positive one for us all.

As stated in a recent post, this year I am going to change the posts a little sometimes by following one currency through a week but then also revert back to the standard proceedure and post about different ones through the week.

To start off, I am looking at the EUR which at present is in a short trade mentioned from the 13th December which has not been closed out despite its recent pullback. However at present is not in a position to enter due to its consolidation phase.

Price is currently hanging around the V.I. and the shorter term trend is down whilst the medium and longer term trends are still up, but price has broken the trendline of the upmove from March of this year and so with this and price having closed below the V.I. and after retesting the former resistance and other confluences including the Get Stochastics and RSI I am looking to short this at present should I get one more reason to add to my already growing events,until confluences change to indicate otherwise and am looking for an appropriate entry with ESLT. However as the week goes on my opinion can change in accordance with the markets and so I am now in the waiting / patient period of trading which everyone has to endure.

As always please ensure to do your own analysis before trading.

Charts courtesy of AdvancedGet.

Good luck.

Clayton Farnworth.