EURUSD UPDATE
From my last analysis on EURUSD, I said the price may retest the Gartely W pattern on the weekly timeframe, and if there is not a fake breakout on the daily timeframe, potential HNS patterns will formed and give us a massive downside on EURUSD. And now the price is doing what I said in my last analysis.
From the institutional' point of view, they are bullish bias on the EUR. In today's new report, long positions added around 2.4k, and 19k of shorts positions were closed. During EUR push to the downside, not because of short added but long added and short closed, this implied they are accumulating their long positions in order to buy at the lower price.
The proper way to approaching this pair is to wait for the retest on the daily new structure as highlighted on chart, then we only can look for the short opportunity and the target will be the neckline of the Gartely W pattern. If you already short at the higher price, you may risk-free it and hold till the target.
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 institutional' point of view, they are bullish bias on the EUR. In today's new report, long positions added around 2.4k, and 19k of shorts positions were closed. During EUR push to the downside, not because of short added but long added and short closed, this implied they are accumulating their long positions in order to buy at the lower price.
The proper way to approaching this pair is to wait for the retest on the daily new structure as highlighted on chart, then we only can look for the short opportunity and the target will be the neckline of the Gartely W pattern. If you already short at the higher price, you may risk-free it and hold till the target.
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.