EURUSD

Last week Sundays publication played out resulting in 2 wins from this pair. 2/3 wins per week is all you need. New favorite pair.

Okay lets jump into the pair and see what awaits us.

We see a new 4H support area, highlighted in yellow. It engulfs the psych number of 1.12800.

Following DXY pushing up to resistance we see this pair pushing down to resistance.

We are hoping for the 1.12000 region to be tapped and see us go long. In confluence with DXY.

It will take a significant amount of sell pressure to break the 1.12000 level and with support structures , namely the 1.12000 psych number, zone and upward trend line, my bias for this pair is long.

Komentar:

The pressure to break the 1.12000 level has come with the US dollar gaining strength off talks of a rate cut.

My bias for this pair was long but was never in this trade for 2 reasons:
1) I don't trade on Mondays. Markets need to settle.
2) DXY did not reject the resistance it was at convincingly enough to indicate a weakening USD.

Komentar:

Awaiting to see how DXY reacts to the support it is currently at. If it can break then we can see this pair falling out the sky TO the 1.11600 level