EURUSD
From the weekly point of views, the price did an overextended move to the upside, expect a deeper pullback to the potential weekly support and complete the formation of the big W pattern. From the daily point of views, the price was broke below the recent structure, if the next candle will show another bearish candle on the daily perspective, a deeper pullback is expected, like what we want to see on the weekly perspective, otherwise, this can be a fake breakout and continue a move to the upside.
From the hedge funds' point of view, they are bullish bias on EUR on the longer-term perspectives. In today new report, they were added around 10k of long positions and closed 4.1k of short positions on EUR. More long added and short closed, EUR should push to the upside.
The proper way to approaching this pair is to wait for the next bearish candle on daily perspective, after that, we can waiting for a retest on the recent structure and looking for the short opportunity inside this structure area. Shorting at the current price is not a proper way, because this daily candle can be a fake break out to hunt those traders who already in the sell-side before a big push to the downside.
The result might not follow my analysis, and this analysis is based on the technical and COT perspective.
Comment below let me know your views on EURUSD.
From the hedge funds' point of view, they are bullish bias on EUR on the longer-term perspectives. In today new report, they were added around 10k of long positions and closed 4.1k of short positions on EUR. More long added and short closed, EUR should push to the upside.
The proper way to approaching this pair is to wait for the next bearish candle on daily perspective, after that, we can waiting for a retest on the recent structure and looking for the short opportunity inside this structure area. Shorting at the current price is not a proper way, because this daily candle can be a fake break out to hunt those traders who already in the sell-side before a big push to the downside.
The result might not follow my analysis, and this analysis is based on the technical and COT perspective.
Comment below let me know your views on EURUSD.
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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.
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.