Rather quiet to begin the week as the EuroDollar remains unchanged during the Initial 3 sessions of the week. A "Doji" Daily Candle printed, informing us those of us more technically minded to write off the day's price behavior and look to preceding candles for indication of future direction. It is important to note the longer top wick of 38.5 pips versus the 23.5 pips bottom wick. We can observe yet another daily candle wicking into the Weekly level 1.087. This Price remains very important in the short term because it may facilitate a pullback on EurUsd to the downside. This follows a historic Week of volatility for the EuroDollar as Trumps Tariffs shook the markets to say the least.
If we are considering Bullish targets for the week, Daily Level 1.093 , or even Daily Level 1.098 which would be the most generous for buyers. When fundamentals are this strong, it's more difficult to discount those larger, irrational moves that you see in the markets sometimes. So although one could argue how over-extended the EuroDollar is, we must remember the game we are playing.
In Considering Bearish targets, a retest of Daily Support level 1.0786 seems reasonable. A Deeper retracement could see price around 1.0694 , the beginning of Last Tuesdays very clean bullish NY session. A pullback seems technically sound, considering the outlier and extent of last weeks upside move.
Job Openings on Tuesday is the appetizer to the
Inflation CPI data on Wednesday which will surely see some volatility rock these already rattled markets.
CPI/Inflation is forecasted to Cool for the Dollar which technically supports more strength for the Euro and a further upside push for this pair.
Please Leave a rocket or comment if you enjoyed this Analysis. Have a good trading week !
If we are considering Bullish targets for the week, Daily Level 1.093 , or even Daily Level 1.098 which would be the most generous for buyers. When fundamentals are this strong, it's more difficult to discount those larger, irrational moves that you see in the markets sometimes. So although one could argue how over-extended the EuroDollar is, we must remember the game we are playing.
In Considering Bearish targets, a retest of Daily Support level 1.0786 seems reasonable. A Deeper retracement could see price around 1.0694 , the beginning of Last Tuesdays very clean bullish NY session. A pullback seems technically sound, considering the outlier and extent of last weeks upside move.
Job Openings on Tuesday is the appetizer to the
Inflation CPI data on Wednesday which will surely see some volatility rock these already rattled markets.
CPI/Inflation is forecasted to Cool for the Dollar which technically supports more strength for the Euro and a further upside push for this pair.
Please Leave a rocket or comment if you enjoyed this Analysis. Have a good trading week !
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We forecasted during the second Asian session of the week, and Monday evening here on PST, that EurUsd may observe more upside despite the already monstrous volatility that we have observed the week before. I explained that the market can continue to push and be irrational. Meanwhile breaking Over-Extended indicators and whatnot. This tends to be the case during especially relevant fundamental times in the markets.. Tariffs being one of those. Price has already pushed to our 1.093 extreme Daily Resistance level, a target of 80 Pips overnight.. called out here. We still have some bullish targets to hit, such as 1.098 Daily Level and aslo 1.113 which would be the top of the monthly range for the past 2 years on EurUsd. Pullback are natural and healthy for trending market. It's good to plan for both sides , but this doesnt necessarily mean you have to trade both sides. If you enjoy these updates and anlyses , please leave feedback . 
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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.