Euro / U.S. DollarShort
EUR/USD - Forecasted Potential Setup for the Next Few Days
Currently, the price is forming a descending triangle pattern. I expect it to take liquidity at the 1.07100 level before making another higher low. My focus is on the 1.07350 level as a potential entry point for short positions. Given that the price is down across all timeframes, I am not considering long positions at this moment.
If the price breaks the daily highs, this setup will become invalid, and I will then look for long opportunities on a pullback. However, for now, my strategy is exclusively oriented towards shorts.
Confluences:
Like and comment if you agree with my setup idea.
If the price breaks the daily highs, this setup will become invalid, and I will then look for long opportunities on a pullback. However, for now, my strategy is exclusively oriented towards shorts.
Confluences:
- Forecast for negative DXY news on 27/06/2024, which is expected to cause a pullback.
- Anticipation of positive results in Friday's news, potentially causing a breakout in this pair and a test of the weekly highs for DXY.
Like and comment if you agree with my setup idea.
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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.