The Euro has experienced an incredible bullish rally since last week, showing small pullbacks from the 18EMA, whereas I've been trying to catch a more substantial correction. Price action is overextended, where a healthy correction should come any time soon.
However, this evening (from +8 GMT), the NFP will keep the market awake. This report could or could not help the US dollar to change its sour sentiment in the board game. DXY has experienced eight continuous red sessions, the sentiment towards the US economy remains to plunge, and this evening might boost the currency.
As price action has found strong resistance at the 1.1380 handle, a sell-stop entry, give enough room for the following setup:
S/L: 80 pips - R:R | 1:2.3 - T/P aiming to a support level in confluence with the Fibonacci level 5.0
However, this evening (from +8 GMT), the NFP will keep the market awake. This report could or could not help the US dollar to change its sour sentiment in the board game. DXY has experienced eight continuous red sessions, the sentiment towards the US economy remains to plunge, and this evening might boost the currency.
As price action has found strong resistance at the 1.1380 handle, a sell-stop entry, give enough room for the following setup:
S/L: 80 pips - R:R | 1:2.3 - T/P aiming to a support level in confluence with the Fibonacci level 5.0
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FEEL FREE TO CHECK MY SOCIAL NETWORKS FOR MORE MARKET INFORMATION 🇺🇸 🇪🇸
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
TWITTER
twitter.com/ogfxtrader
FACEBOOK
facebook.com/ogfxtrader
INSTAGRAM:
instagram.com/og.fxtrader
FREE TELEGRAM:
t.me/ogfxtrader
twitter.com/ogfxtrader
facebook.com/ogfxtrader
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.