EURUSD : SELL THE HEADS AND SHOULDERS FORMATION

Dear Traders,

Happy for you for making in 2023.

This year is coming to an end with Head ans Shoulders formation.

Traders are ahead of them selfs pricing 50bps cut in 24 March FOMC Meeting.

Sell EURUSD as the market will be cutting their bearish bet over the USD.

Use stop lose,

Bye

Comment:

Comment:

Comment:

Reuters "Investors expect borrowing costs to fall by around 165 bps in 2024 and an almost 80% chance of the first cut coming in March, according to pricing in money markets."

Comment:

According to seasonality data , EURUSD have 30% chance to end the January higher and 70% to end the month of January lower !

So far so go for our EURUSD trade the pair is down 0.8% on the first day of trading in 2024.

Order cancelled:

The USD is losing momentum cause deflation is creaping in the US market , plus comments from Fed's Logan to slow the trundown of balance sheet is building bearish expectation for the USD.

I'll cancel this tared Idea.