Short

EU analysis for the upcoming week of Oct. 9

Updated

In this video I go over my opinion of were I think price will be heading. EU has reacted off a Daily -OB MT to the pip and has started its decent to the nether parts of the charts. It is my opinion that since the dollar is still buying so strong that EU will continue to sell. I think that EU is setting up to retrace towards premium prices for shorts. There are key levels I highlight where I will be looking to add positions.

Trade closed manually

Just to update you guys. So price did as I anticipated. Price did wick down into the 1hr +FVG and we had a nice reaction. Although I didn't place my entry right at the open of the 1hr +FVG, since there was a reaction, I waited for confirmation that price was actually moving to the upside. So I scaled down to the 1 min TF, and waited for a break of structure before taking an entry. I ended up taking an entry at the .96961 and closing the trade manually @ 0.97429 which was exactly 45.6 pips. The trade took longer than I had expected to actually materialize, nevertheless it happened. I think because in the US there was a bank holiday, so the market didn't really move exceptionally well today. I still think there is room to go higher before the major push to the downside. Look for price to possibly close in the 1hr +FVG, before heading up.

chaarate

Also on:

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.