Price Action Overview:
Price broke out lower after sweeping Monday and Tuesday's high.
President Trump's speech discussed a 25% tariff on EU exports to the US and uncertainties in the UK.
This led to a stronger dollar, breaking the perceived Tuesday weekly low and making Wednesday the weekly high above @1.2700.
Market Relationships:
Trump and UK Prime Minister Keir Starmer have maintained a good relationship, which might result in a beneficial bilateral agreement, potentially leading to a tariff-free exchange.
Session Analysis:
Asian session lows have already been taken out.
Expectations are for the Asian highs to be reached after filling the imbalances left in the early London session @1.2590.
Price will target the sell-side imbalance (SIBI) left on Thursday (yesterday) @1.2645, taking out yesterday’s NY highs.
From that point, the Personal Consumption Expenditures (PCE) data could move the price lower.
Weekly and Monthly Outlook:
Today is the final day of the week (bearish), which left a buy-side imbalance (BISI) unfilled @1.2560, which might be filled later.
This is also the final day of the month (bullish).
Keep in mind the PCE data release today.
Confluence Analysis:
The DXY (U.S. Dollar Index) has made a higher high, while EURUSD has made a higher low, indicating a potential confluence and divergence.
This confluence suggests that the price might run in the opposing direction shortly after, adding to the overall market dynamics.Price Action Overview:
Price broke out lower after sweeping Monday and Tuesday's high.
President Trump's speech discussed a 25% tariff on EU exports to the US and uncertainties in the UK.
This led to a stronger dollar, breaking the perceived Tuesday weekly low and making Wednesday the weekly high above @1.2700.
Market Relationships:
Trump and UK Prime Minister Keir Starmer have maintained a good relationship, which might result in a beneficial bilateral agreement, potentially leading to a tariff-free exchange.
Session Analysis:
Asian session lows have already been taken out.
Expectations are for the Asian highs to be reached after filling the imbalances left in the early London session @1.2590.
Price will target the sell-side imbalance (SIBI) left on Thursday (yesterday) @1.2645, taking out yesterday’s NY highs.
From that point, the Personal Consumption Expenditures (PCE) data could move the price lower.
Weekly and Monthly Outlook:
Today is the final day of the week (bearish), which left a buy-side imbalance (BISI) unfilled @1.2560, which might be filled later.
This is also the final day of the month (bullish).
Keep in mind the PCE data release today.
Confluence Analysis:
The DXY (U.S. Dollar Index) has made a higher high, while EURUSD has made a higher low, indicating a potential confluence and divergence.
This confluence suggests that the price might run in the opposing direction shortly after, adding to the overall market dynamics.
Price broke out lower after sweeping Monday and Tuesday's high.
President Trump's speech discussed a 25% tariff on EU exports to the US and uncertainties in the UK.
This led to a stronger dollar, breaking the perceived Tuesday weekly low and making Wednesday the weekly high above @1.2700.
Market Relationships:
Trump and UK Prime Minister Keir Starmer have maintained a good relationship, which might result in a beneficial bilateral agreement, potentially leading to a tariff-free exchange.
Session Analysis:
Asian session lows have already been taken out.
Expectations are for the Asian highs to be reached after filling the imbalances left in the early London session @1.2590.
Price will target the sell-side imbalance (SIBI) left on Thursday (yesterday) @1.2645, taking out yesterday’s NY highs.
From that point, the Personal Consumption Expenditures (PCE) data could move the price lower.
Weekly and Monthly Outlook:
Today is the final day of the week (bearish), which left a buy-side imbalance (BISI) unfilled @1.2560, which might be filled later.
This is also the final day of the month (bullish).
Keep in mind the PCE data release today.
Confluence Analysis:
The DXY (U.S. Dollar Index) has made a higher high, while EURUSD has made a higher low, indicating a potential confluence and divergence.
This confluence suggests that the price might run in the opposing direction shortly after, adding to the overall market dynamics.Price Action Overview:
Price broke out lower after sweeping Monday and Tuesday's high.
President Trump's speech discussed a 25% tariff on EU exports to the US and uncertainties in the UK.
This led to a stronger dollar, breaking the perceived Tuesday weekly low and making Wednesday the weekly high above @1.2700.
Market Relationships:
Trump and UK Prime Minister Keir Starmer have maintained a good relationship, which might result in a beneficial bilateral agreement, potentially leading to a tariff-free exchange.
Session Analysis:
Asian session lows have already been taken out.
Expectations are for the Asian highs to be reached after filling the imbalances left in the early London session @1.2590.
Price will target the sell-side imbalance (SIBI) left on Thursday (yesterday) @1.2645, taking out yesterday’s NY highs.
From that point, the Personal Consumption Expenditures (PCE) data could move the price lower.
Weekly and Monthly Outlook:
Today is the final day of the week (bearish), which left a buy-side imbalance (BISI) unfilled @1.2560, which might be filled later.
This is also the final day of the month (bullish).
Keep in mind the PCE data release today.
Confluence Analysis:
The DXY (U.S. Dollar Index) has made a higher high, while EURUSD has made a higher low, indicating a potential confluence and divergence.
This confluence suggests that the price might run in the opposing direction shortly after, adding to the overall market dynamics.
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.
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.