EUR/USD why the price may reach 1.2300? another fake out?
As was mentioned in the previous post,
- The price action shall be BEARISH, but the dollar's appreciation is capped for only one reason which is the inflation combined with the easy monetary policy of the FED.
- The market is likely to move to ( OVER VALUED ) uptrends that are VERY likely (would not hold and would keep facing rejections back to the 1.2200).
- PRICE RANGE FOR SWING TRADRERS ACCORDING TO FUNDAMENTALS REMAINS (1.2300-1.2100).
According to the recent fundamentals,
- The economic outlook remains stronger in the U.S and any attempts to (1.2300) would be considered not only as a fake out that would not hold long but also a good selling opportunity.
- Due to the inflation and the easy monetary policy situation, any attempt to (1.2100-1.2080) would be considered as a good buying opportunity.
IT IS WISE TO TAKE INTO ACCOUNT THAT THE CALENDAR THIS WEEK IS FULL OF HIGH IMPORTANCE AWAITED DATA, THE ONES THAT IF ARE SEEN (UPBEAT), THE PRICE RANGE MAY CHANGE, BUT FOR NOW IT REMAINS AS SAID.
-- THIS PICTURE REMAINS ONLY TILL ANY UPCOMING NEWS AND DATA, SO I WILL UPDATE WITH CHANGES ACCORDINGLY --
- The price action shall be BEARISH, but the dollar's appreciation is capped for only one reason which is the inflation combined with the easy monetary policy of the FED.
- The market is likely to move to ( OVER VALUED ) uptrends that are VERY likely (would not hold and would keep facing rejections back to the 1.2200).
- PRICE RANGE FOR SWING TRADRERS ACCORDING TO FUNDAMENTALS REMAINS (1.2300-1.2100).
According to the recent fundamentals,
- The economic outlook remains stronger in the U.S and any attempts to (1.2300) would be considered not only as a fake out that would not hold long but also a good selling opportunity.
- Due to the inflation and the easy monetary policy situation, any attempt to (1.2100-1.2080) would be considered as a good buying opportunity.
IT IS WISE TO TAKE INTO ACCOUNT THAT THE CALENDAR THIS WEEK IS FULL OF HIGH IMPORTANCE AWAITED DATA, THE ONES THAT IF ARE SEEN (UPBEAT), THE PRICE RANGE MAY CHANGE, BUT FOR NOW IT REMAINS AS SAID.
-- THIS PICTURE REMAINS ONLY TILL ANY UPCOMING NEWS AND DATA, SO I WILL UPDATE WITH CHANGES ACCORDINGLY --
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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.