EURUSD reentered my buy from earlier had to close early with minimum profits bc couldnt pass 15 min breaker block but now its tapped into my 5 min retest zone im gonna reenter and aim for my inital target. this is based off price sweeping liquidity below 4hr demand zone and going back up aiming for 2nd touch trendline liquidity
EURUSD The way I see EUR/USD is looking closely at DXY. On weekly chart I can see DXY has broken a major level of around 99.60. Now the next target in few week for DXY would be 95.80
So do not short the EUR USD till the time you see 95.80 on DXY. There may be a time when EURUSD hit low to 1.1250 from here but that time would be for buying not selling. Buy on Dips and Sell after DXY hits 95.80 or on safer side 96.15.
Reason → It is a weighted geometric mean of the dollar's value relative to following select currencies: Euro (EUR), 57.6% weight Japanese yen (JPY), 13.6% weight Pound sterling (GBP), 11.9% weight Canadian dollar (CAD), 9.1% weight Swedish krona (SEK), 4.2% weight Swiss franc (CHF), 3.6% weight
Now people should be able to understand the reason why DXY affects the EUR/USD pair the most.
EURUSD Don't let yourself be sucked into a fake push up. Remember, for a valid ChoCh it has to hit a major demand/supply zone first, on a higher timeframe. The move up started from 15th April and that's your demand zone. It has to go into that zone first, before it's going to push back up. I think it'll hit that zone, push up a little, before coming back down to take out the daily imbalance at 1.11713 area and THEN it will push back up to new highs.