EURUSD
From the technical view:
1. From the Monthly perspective, the price created an impulse to the upside without any proper retracement, now we can expect a deeper retracement to at least 38.2 FIB Retracement taken on the monthly impulse. In that point, 38.2 can be our swing target as label on the chart.
2. From the daily perspective, the price just broke above the resistance area but we can expect this is a fake break out and intense to create an equal low plus a retest to the resistance again a.k.a the creation of the right shoulder.
From the fundamental view:
1. Big players are extremely bearish bias on EUR
2. In the new report, net position is huge decreased from 211k to 165k, and the long was added around 1.5k and short added 4.5k. During the break above daily resistance, huge amount of short added, which mean they are generating their short liquidity at the high and induce break out traders go for the long and this is good for them to push the price down and hunt their StopLoss.
How to approach EURUSD?
1. Waiting for the market create a proper HNS pattern on the daily perspective as mentioned in the technical part.
2. If the market will form the HNS pattern then we can go to the lower timeframe looking for the short opportunity if your rules of the strategy are fulfilled.
3. Just short when the market open is not a good idea, because price already break above the resistance level and now become the support, so market may continue push to the upside aggressively and I not suggest to sell at the support level.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, the price created an impulse to the upside without any proper retracement, now we can expect a deeper retracement to at least 38.2 FIB Retracement taken on the monthly impulse. In that point, 38.2 can be our swing target as label on the chart.
2. From the daily perspective, the price just broke above the resistance area but we can expect this is a fake break out and intense to create an equal low plus a retest to the resistance again a.k.a the creation of the right shoulder.
From the fundamental view:
1. Big players are extremely bearish bias on EUR
2. In the new report, net position is huge decreased from 211k to 165k, and the long was added around 1.5k and short added 4.5k. During the break above daily resistance, huge amount of short added, which mean they are generating their short liquidity at the high and induce break out traders go for the long and this is good for them to push the price down and hunt their StopLoss.
How to approach EURUSD?
1. Waiting for the market create a proper HNS pattern on the daily perspective as mentioned in the technical part.
2. If the market will form the HNS pattern then we can go to the lower timeframe looking for the short opportunity if your rules of the strategy are fulfilled.
3. Just short when the market open is not a good idea, because price already break above the resistance level and now become the support, so market may continue push to the upside aggressively and I not suggest to sell at the support level.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
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