EUR/USD is showing clear bullish divergence within a beautiful falling wedge.
The trade is not active yet and we are looking for two potential outcomes:
1 - A breakout and check-back to support where we would long.
2 - A retracement within the wedge, that would give us a potential for bullish divergence again and maybe even the lower support being touched.
In addition to this the DXY is showing buyer exhaustion and a break below the 0.382 level could see a retracement to the lows. One to keep an eye on for sure.
We will update when we go long with a clear entry and exit.
The trade is not active yet and we are looking for two potential outcomes:
1 - A breakout and check-back to support where we would long.
2 - A retracement within the wedge, that would give us a potential for bullish divergence again and maybe even the lower support being touched.
In addition to this the DXY is showing buyer exhaustion and a break below the 0.382 level could see a retracement to the lows. One to keep an eye on for sure.
We will update when we go long with a clear entry and exit.
Comment:
Still no confirmation and the DXY confirmed the 0.382 as support. Meaning it will probably run to the 0.618 and the eur and gbp will fall further
Comment:
Opened at break of 1.082. Long with SL Below the low. lets see what happens
