Currently: Cash Looking to: Short @ 1.19492
As of 7/31/20 @ 7:40am EST: 1.18338
LAST WEEK: We suggested selling longs / getting short at 1.16831 with stops on a close above 1.175 and with a target of 1.14225.
UPDATE: The EURUSD currency cross has simply exploded to the upside as the US fiscal and monetary puppet
masters appear to be far more dovish (as a result of the ongoing COVID situation) than their European counterparts. Right now, this looks like a clear third wave thrust higher.
The projected target now comes in at 1.19492. From there, we would expect a drop to 1.15588. We would look to reshort EURUSD at 1.19492 with stops on a close above 1.20500 and with a target of 1.15588.