August 7, 2018 08:33: Eurodollar trade strategy [From Mr. Tetsu Emori's newsletter]
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From the investment newsletter "Tetsuya Emori's Real Trading Strategy" by Tetsuya Emori, provided by GogoJungle, here is a small excerpt from this morning's distribution. This time, please take a look at the EUR/USD trading strategy that touched a new low for the first time in five weeks.
We will maintain a short position on EUR/USD. It has become oversold, and we will first confirm whether it can stall its decline. The break below 1.1670 continues, and the upside is heavy. The long-term trend is at 1.1660, which is also below. The fair value is 1.1565. It is almost at the same level. If it breaks downward from here, the decline could become significant.
Quoted from “Tetsuya Emori's Real Trading Strategy” (Tetsuya Emori).
The EUR/USD is trading in the mid-1.1s. The dollar looks likely to remain in a supportive environment. (Editorial staff)
EUR/USD, 1-hour chart.
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