Last week we had the dollar correction as planned and it may well continue this week still. At least early in the week, I wouldn’t buy the dollar, so more up for EU and GU then. As for EU, both targets from last week were hit, now I have a small bull target for early in the week and thats it, no plans beyond that. I am still waiting for a short opportunity above 1900, but if it doesn’t come, it doesn’t come. I see some unfinished business there, so I won’t be shorting until that area is re-visited, even though I am bearish on EU medium to long term.
When it comes to EG, the drop also did continue and we are slowly going towards my target of 8920. It may be a bumpy road until then, but we will get there eventually. I have an idea, but it might not go so nicely, so just shorting the spikes until the target is hit.
GU long from last week worked out the best so far, we are up 200 pips and slowed down between 2900-2950, as I expected. Now I think we will break 3000 and spike above, but it may go the other way first, we will see. Either way, my target of 3170-3240 is still valid. The moves will depend on brexit news and if a deal is realistic or not. Like I said already few weeks back, to me a deal is a sure thing, since big money is involved, but lets wait and see.
I am also seing some interresting long opportunities on UJ. You can see 2 entry zones on the chart, where it might be good to start building longs towards a target of 106 minimum, up to 107. But no need to long yet, safer to wait on how the week evolves and then maybe we will slow down in one of the areas below, for a good long entry.