EURUSD: Expecting a drop with continued hawkish FED
Updated
The data coming out of the US continues to support an additional hike this year, with all FED speakers continuing their hawkish stance to return inflation to the 2% target, so getting more likely there'll be a hike in November IMO.
Seeing stagflation in the EUROZONE, also real bond yields are positive in the US which makes the USD mo5re attractive, this all makes me bearish on this pair.
We saw a drop from highs in the DXY last week which suggests profit taking to me as we entered into the weekend with a US national holiday tomorrow.
I expect this pair to drop to channel bottom, will be watching the open price tomorrow and waiting for an entry in LTF's.
Seeing stagflation in the EUROZONE, also real bond yields are positive in the US which makes the USD mo5re attractive, this all makes me bearish on this pair.
We saw a drop from highs in the DXY last week which suggests profit taking to me as we entered into the weekend with a US national holiday tomorrow.
I expect this pair to drop to channel bottom, will be watching the open price tomorrow and waiting for an entry in LTF's.
Trade active
Trade closed manually
Grabbed some nice pips but bailing out here, thinking we may be looking at a reversal, will get back in if this proves wrong...
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