This will be a very good move as the market was held at the resistance level. SL should be kept small as always.
EU to fall coming days as it hits critical area.
We clearly see a break and retest of the chanel created since 01/04/2021 and that it has retraced to the 78.6%. The move i will be anticipating will be a short position with a small space for the stoploss.
As price continue to move inside the chanel and repeat the same pattern, these would be perfect trades to be taken.
An up move is expected if annd only the dollar strenghthens.
A fall perspective as the market returns to a critical area and an all time high.
Manage risk as suppose to and use the techniek of loss 2 win big as planned.
It will be heading up as it retested the broken descending wedge.
EUR is going up as AUD is also performing well and pumping up. Normally i will think of a consolidation mode but the euro is bigger than the AUD so it will make the market move up as it also makes sense with the technicals.
USDJPY will be heading down as it reached the top of the channel. DXY is also falling as I predicted earlier today.
I recently posted a post on GBPUSD and this is an update of also a good entry as it hits the trendline.
We wil be waiting for a retest of the trendline and if price retests and respects it the we will be entering for a buy.