Strifor || EURUSD-Week Starting
Updated
Preferred direction: BUY
Comment: At the beginning of the new week, the euro remains on the buy list, especially if we are talking about the prospect of 1-3 days (before the Fed meeting on Wednesday). This event, as well as the NFP, forces one to be as flexible as possible and be prepared for changes in trading plans at the beginning of this week. Nevertheless, growth is still more likely, but unfortunately, the targets are not as promising as last week. This week, as part of the growth, targets above 1.08000 are not yet being considered. If the dollar's weakness is demonstrated, one can count on growth towards 1.09000, where there is a large liquidity zone.
Two scenarios are considered, where the more likely scenario №1 says about growth near the level of 1.07225 (breakout trade). A less likely scenario №2 is about the strengthening of the US dollar on Wednesday, within which we can expect a fall to the level of 1.06500. But since technically there is still a possibility of growth to 1.08000, then in the event of this fall, we can consider going long again according to scenario №2.
Additional comments on this trade will be provided as situation changes. Follow us!
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Comment: At the beginning of the new week, the euro remains on the buy list, especially if we are talking about the prospect of 1-3 days (before the Fed meeting on Wednesday). This event, as well as the NFP, forces one to be as flexible as possible and be prepared for changes in trading plans at the beginning of this week. Nevertheless, growth is still more likely, but unfortunately, the targets are not as promising as last week. This week, as part of the growth, targets above 1.08000 are not yet being considered. If the dollar's weakness is demonstrated, one can count on growth towards 1.09000, where there is a large liquidity zone.
Two scenarios are considered, where the more likely scenario №1 says about growth near the level of 1.07225 (breakout trade). A less likely scenario №2 is about the strengthening of the US dollar on Wednesday, within which we can expect a fall to the level of 1.06500. But since technically there is still a possibility of growth to 1.08000, then in the event of this fall, we can consider going long again according to scenario №2.
Additional comments on this trade will be provided as situation changes. Follow us!
Thank you for like and share your views!
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Trade closed: target reached
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