Hello Forex traders. The recent surge of the US 10Y yield really give the dollar index a push. We can clearly see the rising dollar index weights on gold, stock index as well as other currencies.
On the EURUSD daily chart, I'm watching how the zone of 1.661-1.673 will work as a defend holder. Two possible routes are marked on the chart:
1. Route 1: The holder works well and the pair manages to break the downtrend line. We should look for bullish setups on smaller timeframes, e.g. 60m, 240m.
2. Route 2: The holder fails to defend the sellers. We should look for bearish setups on 60m or 240m. I'm really keen for the pullback short setup in this case.
Personally, I favor the second route. What do you think?
Give me like if you're with me.
On the EURUSD daily chart, I'm watching how the zone of 1.661-1.673 will work as a defend holder. Two possible routes are marked on the chart:
1. Route 1: The holder works well and the pair manages to break the downtrend line. We should look for bullish setups on smaller timeframes, e.g. 60m, 240m.
2. Route 2: The holder fails to defend the sellers. We should look for bearish setups on 60m or 240m. I'm really keen for the pullback short setup in this case.
Personally, I favor the second route. What do you think?
Give me like if you're with me.
Comment:
It fell into the second route. On the 30m chart below, it got a quick retest after the zone being violated. The pullback strategy works.
Comment:
It went down as expected. However, I'm estimated an pullback short opportunities in the coming days.
plan your trade and trade your plan
