EURUSD Setups 08/12 - 08/17 Outlook
EURUSD is in a fairly obvious downtrend which is why to start off the week I am looking to see a slight movement up towards the 1.145 - 1.147 area at which point I will be identifying if a sell scenario is confirmed to go short for the week down towards 1.13.
There is a large amount of market structure at the 1.135 area so we could just see a continuation of the bearish momentum that is building and find ourselves going lower prior to any bullish scenarios setting up!
Possible macro Head and Shoulders setting up which could result in EURUSD heading down to parity (1.00) over the remainder of trumps presidential term
I am not (yet) a licensed financial adviser and this analysis does not constitute as financial advice. This is for educational purposes and you accept sole responsibility of any and all trades you take... investing with real money involves risk!
There is a large amount of market structure at the 1.135 area so we could just see a continuation of the bearish momentum that is building and find ourselves going lower prior to any bullish scenarios setting up!
Possible macro Head and Shoulders setting up which could result in EURUSD heading down to parity (1.00) over the remainder of trumps presidential term
I am not (yet) a licensed financial adviser and this analysis does not constitute as financial advice. This is for educational purposes and you accept sole responsibility of any and all trades you take... investing with real money involves risk!
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