EURUSD, the 2 setups I'm watching for.
Updated
EURUSD / 4H
Hello traders, welcome back to another market breakdown.
EURUSD has been breaking the lowers. And, the price has rejected major key level on the monthly time frame. Plus, the We have got the Dollar index DXY rejecting a Macro level which makes me think there are more stength in the dollar. Further more, we have got the US10Y bond market breaking the structure higher which makes me want to bet on the dollar while it's offering a pull-back.
Fundamentals: The current weakness on the dollar has came amid Bostic (Fed) comments : he said that the fed COULD be in position to pause from increasing rates by mid to late summer. This was late in the last week which explains the last rally in the EURUSD. However, the smartest market out there (Bonds) didn't really care about his comments.
The 2 scenarios I'm looking at:
1- The Complex pull-back AB CD move has already finished and the current pull-back migh just be the lower high on this move.
2- The price might decide to go back to the Mid-range before it finds heavy bears willing to short at a discount.
Trade safely,
Trader Leo.
If you like the indeas shared don't forget to like and subscribe, it helps spreading the good setups.
Hello traders, welcome back to another market breakdown.
EURUSD has been breaking the lowers. And, the price has rejected major key level on the monthly time frame. Plus, the We have got the Dollar index DXY rejecting a Macro level which makes me think there are more stength in the dollar. Further more, we have got the US10Y bond market breaking the structure higher which makes me want to bet on the dollar while it's offering a pull-back.
Fundamentals: The current weakness on the dollar has came amid Bostic (Fed) comments : he said that the fed COULD be in position to pause from increasing rates by mid to late summer. This was late in the last week which explains the last rally in the EURUSD. However, the smartest market out there (Bonds) didn't really care about his comments.
The 2 scenarios I'm looking at:
1- The Complex pull-back AB CD move has already finished and the current pull-back migh just be the lower high on this move.
2- The price might decide to go back to the Mid-range before it finds heavy bears willing to short at a discount.
Trade safely,
Trader Leo.
If you like the indeas shared don't forget to like and subscribe, it helps spreading the good setups.
Note
I'm studying this setup now.Trade active
Chart update Order cancelled
I didn't take the trade, Bears failled to break the structure on lower time frame.
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