EURUSD
From the Technical views:
1. From the weekly point of view, we can see that the price is rejecting the weekly resistance zone, if you looking at the historical price data, once the price reached this area will show a big rejection and move to the downside, now we can expect a move to the downside from this area to the potential weekly support area, as shown on the chart.
2. From the daily perspectives, the price just formed a new structure area and moving inside the rising wedge pattern. Once the price is able to break below both the rising wedge and new structure area, we can expect a further downside.
From the Institutional's views:
1. Overall bullish bias on the longer-term of view.
2. In the new data, more long were added, the net position from -114k become 103k at the moment. we can expect some strength on the EUR and drive EURUSD to the upside.
How to approach EURUSD?
1. Only the price will able to break below both the rising wedge and new structure area, then we only can look for the short opportunity in the lower timeframe.
2. Otherwise, price can continue to move to the upside, since the big players are quite bullish on EUR.
3. Sell at the moment is not a good idea, because price is approaching the daily support area, you don't wish to sell at the support area.
4. As long as the price keeps moving inside the wedge pattern, I don't have any interest to long or short on this pair.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on EURUSD.
1. From the weekly point of view, we can see that the price is rejecting the weekly resistance zone, if you looking at the historical price data, once the price reached this area will show a big rejection and move to the downside, now we can expect a move to the downside from this area to the potential weekly support area, as shown on the chart.
2. From the daily perspectives, the price just formed a new structure area and moving inside the rising wedge pattern. Once the price is able to break below both the rising wedge and new structure area, we can expect a further downside.
From the Institutional's views:
1. Overall bullish bias on the longer-term of view.
2. In the new data, more long were added, the net position from -114k become 103k at the moment. we can expect some strength on the EUR and drive EURUSD to the upside.
How to approach EURUSD?
1. Only the price will able to break below both the rising wedge and new structure area, then we only can look for the short opportunity in the lower timeframe.
2. Otherwise, price can continue to move to the upside, since the big players are quite bullish on EUR.
3. Sell at the moment is not a good idea, because price is approaching the daily support area, you don't wish to sell at the support area.
4. As long as the price keeps moving inside the wedge pattern, I don't have any interest to long or short on this pair.
The result might not follow my analysis, this analysis is based on TA and COT perspectives.
Comment down below let me know your view on EURUSD.
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