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Craig Penny on Invest Diva


Mar.11.2014

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My guest today is CEO of HelpYouTrade.com in collaboration with Shift Forex. So excited to share with you his thoughts!

Here are his main points:

* Cautiously bullish the Euro.
* Holding above 138
* Substantial breakdown of long-term trendline now support targeting 142-145 area on technical basis

Fundamentals are for a weaker dollar despite the current talk of the taper.

- Trader sentiment indicates bullish euro
- ECB did not change rates last week
- USD had a major breakdown
- Strong S&P 500 means a weak dollar
- One rate hike is already priced into the USD
Craig Penny EURUSD Weekly Forex chart
Overall however ....
- possible pullback in Euro before the next leg up
- Volatility is still very low overall and so we need to see a lot of momentum and follow through to CONFIRM these moves are the real deal either way
- So traders need to be watching data like a hawk for any unsuspected surprises
- There are strong arguments for both the Bulls and the Bears and so traders need to be nimble
So basically lookout for momentum and have small positions on EUR/USD to limit your risk in the times of uncertainty.
Craig Penny has been accumulating millions of pennies since he started trading 18 years ago. and this COULD be the reason why he goes by this last name!
Craig penny Invest Diva Kiana Danial forex euro dollar bullish market analysis

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