EURUSD | Perspective for the new week | Follow-up details

The prospect of the Federal Reserve moderating the pace of its policy tightening appear to weigh in on the U.S. currency as price action broke out of the $1.0000 mark a couple of weeks ago. However, sellers appear to be stalling all buying attempts as the $1.04500 level became a strong resistance area for sellers in the last two weeks hereby limiting all bullish attempts around this zone. In this video, I have explained what to look out for in the new week for both buying and selling opportunities.

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Margin trading in the foreign exchange market (including commodity trading, CFDs, stocks, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by me for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and I take no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, and risk tolerance level, and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
I do not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

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The week has started on a bearish note as price action breaks down the key level at 1.03750. We expect selling pressure below this structure.

Good morning

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So, a bullish signal has been identified at this juncture as the price breaks out of the bearish trendline. However, it is important that we take into consideration of the $1.45000 level which has been a selling niche in the last two weeks. So, there are two options to buy the Euro from this structure;
i. breakout/retest of the 1.04500 level or
ii. the retest of the trendline that was broken.

Now if selling pressure is identified below the 1.04500 level, we might be looking for selling opportunities. Update coming up soon

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This was discussed at length during our live session today (video uploaded on my youtub channel); Securing the current buy position after missing out on the first signal.

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QUICK UPDATE
"Watch the live studio session for a detail explanation of our expectations around the 1.04500 level

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Secure sell position as price takes out the buy position at break even. (watch the video of the live session this morning as how to manage this trade was explained in detail).

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Secure position as price breaks down the key level identified on the daily timeframe.

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Following the breakdown/retest of the trendline which also shares a confluence with the 1.03750; another opportunity could be coming in to sell below the 1.3750 level.

Good morning

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Selling pressure continues as I look to add position at the breakdown/retest of the demand zone.

Good morning

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Secure the sell position as the price finally breaks down the 1.03420 level further emphasizing the strength of the sellers at this juncture. So, we are looking to add positions at the retest of structure or the appearance of selling pressure below this level on the lower timeframe. Update coming up soon

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Secure position, Fed's Chair Powell's speech coming up in 10 minutes

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We maintain existing bias as we wait for the 1hour candle to close

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Price takes out the running position with small profit as the US Dollar plunges following the FOMC hence missing this move, we remain patient at this juncture to look out for opportunities to join the trend. Update coming up soon!

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Let's see how price relates to the 1.04500 zone - an area that has served as a selling niche in the past. Update coming soon

Good morning

Trade active:

So, just as discussed during our live session prior to the NY session yesterday (video on my youtub channel); the price finally breakout/retested the 1.05000 level to signal another opportunity to buy. Secure the current position as we lookout for opportunities to add to the existing position at a breakout/retest of the 1.05400 level. We continue to monitor price action in anticipation of NFP. Update coming soon

Good morning

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NFP is coming up in an hour. If you missed our live session today watch the video on my youtub channel to see what our expectations are against this event (the video will be uploaded soon).

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QUICK UPDATE

Trade active:

Secure position as sell position is triggered.

Trade closed manually:

Closed with a small profit.