EUR USD Update
On EUR/USD, major fundamental news is behind us for this week. Currently, the market stands at premium prices, which means no long trades for us at the moment. The crucial level in our current range is the 1.08736 area, known for single prints, indicating a heavy buying area with only offered buys. From an algorithmic standpoint, this level is typically filled 80% of the time and often elicits a significant reaction.
While this doesn't necessarily signal a market rotation, it's worth keeping an eye on. We also use imbalances as scalping targets, but we missed that trade and are on standby this week. There's nothing to offer you guys right now.
Remember, 90% of traders lose money because good trades are only available 10% of the time. We’ll reassess the market tomorrow around the NY session.
Stay patient and let's stay sharp.
While this doesn't necessarily signal a market rotation, it's worth keeping an eye on. We also use imbalances as scalping targets, but we missed that trade and are on standby this week. There's nothing to offer you guys right now.
Remember, 90% of traders lose money because good trades are only available 10% of the time. We’ll reassess the market tomorrow around the NY session.
Stay patient and let's stay sharp.
Daniel P. Fadejev
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