DXYEURUSDGBPUSDXAUUSDUSDJPY Following my thoughts from 3 days back what we saw here, index value retracing inside the 1H TF bullish active range, but instead bouching from the 103.[5-4]xx zone, breaking through and opening below 103.200 zone. That's means that on DTF the retracing continues. However the next stop at 102.xxx is extremely serious because we are entering the daily discount extreme. Eyes there and let's see if dollar gonna re bouch from there. if you let me guess, to be honest I do expect a rebouch with the dollar start rallying for the rest of the year and that because if you switch to yearly TF there is a huge wick need to be filled off the 2022 year candle. but hey let's focus first to thus area .
EURUSD Good day traders. Welcome to a brand new trading day.
What a crazy US session with the Trump tantrums.
As a result of that, technicals have all shifted. Intraday wise, we have switched bullish after the break of structure to the upside.
However, bear in mind we are currently in very high prices and we are now in a massive new range that is created (primed for NFP). This is the range we will be playing on an intraday basis possibly till NFP.
It is also clear that price moved up, not just because of the earlier announcement (which IMO was just but an excuse for institutions to move the market), but also due to the fact that institutions have yet to mitigate out of their previous positions. Their ultimate aim will be the weekly order block right above the weekly imbalance.
Having that narrative in mind, we should be looking for lower risk longs at discounted prices within the range, or if you like adrenaline packed countertrend trades like me, you can consider scalp shorting to discount / demand zones through liquidity points. There are 101 ways to skin a cat ๐บ
Good luck traders. I'll see you at London ๐ฅช ๐ฅช ๐ฅช