EURUSD had great week showing intention to look for higher prices
Price most likely to hit 38% fibo and retrace before pushing higher
Overall sentiment of the market is very bull for EURUSD :
1- Weekly Overview - Huge positive candle on the weekly close
2- DXY broke support and is looking bearish. The structure breakout projection is point DXY to drop to mid 38%-50% fibo .. plenty of room for EURUSD to grow and to break reverse to bull
3- Main USD pairs - All looking bad for USD therefore EUR should benefit from but also expect several retracements to adjust and look for supports in order to sustain their gains from this week
- USDJPY - Looking Bear
- USD vs GBP also on the bear side
- USDCAD also not looking good for USD
Price most likely to hit 38% fibo and retrace before pushing higher
Overall sentiment of the market is very bull for EURUSD :
1- Weekly Overview - Huge positive candle on the weekly close
2- DXY broke support and is looking bearish. The structure breakout projection is point DXY to drop to mid 38%-50% fibo .. plenty of room for EURUSD to grow and to break reverse to bull
3- Main USD pairs - All looking bad for USD therefore EUR should benefit from but also expect several retracements to adjust and look for supports in order to sustain their gains from this week
- USDJPY - Looking Bear
- USD vs GBP also on the bear side
- USDCAD also not looking good for USD
Note
EURUSD bull flag building up for the bullsNote
Note
DXY needs to reject at resistance level. H1 looking like its going to reject but waiting for a H4 closing bearish or dodji
Note
Price reacted and confirmed key bull support for EURUSD
New target aiming close to 50% weekly Fibo Retracement
Note
DXY building another bearish H&S
Note
DXY now mirroring for breakout
Note
Support now been tested and held several times. Last week we saw a new Triangle forming with bearish pressure.
This week we'll be looking for the breakout of this triangle (targets on the chart)
key the eyes open for this week economics, main CPI which can either confirm a strong bullish momentum for EURUSD or bring eur down to the lower level of the channel and potentially break new low.
Note
Target hit. Waiting for DXY to settle and see how it will react at support level. At this point we keep looking for buy but expect a decent retracement to happen so dont jump in right away. Be patiente.just an advice dont take my words for granted of course
Trade closed: target reached
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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.