Always nice to begin a new Month, even if its start IS filled with landmines (major news). Of course the BIG news events provide us with potential fresh outlooks and I think by week's end, EUR/USD will certainly have that. Price played out beautifully yesterday with a DELIGHTFUL bounce off 1.1745 Resistance to first target 1.1690. I can't see the pair continuing to languish in the comfort zone 1.1640/1.1720, in fact I'd be surprised if we see the pair between 1.1600 & 1.1800 when the NFP candle virtually extinguishes the trading week come Friday evening. The scent of a Bull rampage lingers yet in my nostrils & it might just be time to adopt the 'ready for action' stance and commit to a Long position. NOT YET, shouts the little Bearish voice inside which tends to be seeing the running of the Bulls on hold until 1.1625. Ever obedient, I am willing to bide my time but may attempt to 'sneak' a little run to 1.1709 before 'allowing' the Bears their final chance for glory pre-launch. So, Long to 1.1709 then Short to 1.1630, then STANDBY for action as the News prepares to take over and take me with it, in search of 1.1800 and beyond.
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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.