Potential short EURUSD as Risk OFF scenario plays out

  • Potential short EURUSD as Risk OFF scenario plays out

    Posted by BarX on October 13, 2022 at 1:01 pm

    The USD Strengthened as inflation data came out worse than expected. The big move down at the time is retracing back up ready for the open of the NYSE at 9:30am EST. The open is likely to create a strong Risk OFF play which cause the EURUSD to fall. Stay tuned for a EURUSD trade.

    BarX replied 1 year, 4 months ago 2 Members · 3 Replies
  • 3 Replies
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    Chuck

    Community Trading Group Trader
    October 13, 2022 at 1:06 pm

    Great this is exciting, Im looking to short the EUR somewhere between 9:30amd and 10am EST

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    Chuck

    Community Trading Group Trader
    October 13, 2022 at 4:00 pm

    It turned Risk ON

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      BarX

      Community Trading Group Administrator
      October 13, 2022 at 4:02 pm

      Initial Equity slide turns to a massive rally and a Risk ON scenario – So no trade today.
      Why? Because the trade was the EURUSD and to trade that we need to trade in the direction of the trend which in the case of the EURUSD is down so we needed a strong USD and the rapid change from Equities selling off to a rally in a very short time created a weak USD.

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