EURUSD moving higher as expected, but need a pause

FX:EURUSD   Euro / U.S. Dollar
Hi guy's,

EURUSD is moving higher towards 1.26 as expected but as shown in my previous post , it won't go in a straight line. This week was extreme in terms of dollar weakness and the market needs a break. This means that the upside potential for next week is limited. I therefore manage my buys and already executed a short from 1.252 during the Draghi Q&A.

This is an agressive entry but based on my market dynamic analysis in combination with structure and therefore only considered 'aggressive' because it was before the market showed a reversal sign. Personally picking tops in a week like this during a speech is the easiest way to trade for me. That position is at break-even.
For next week I will focus on the expected correction, once that is out of the way I expect a last push higher before we start correcting the entire move from 1.0339.

In my weekly video during the weekend I will go over this in more detail.
Have a nice weekend!
Comment: I uploaded my Weekly outlook; Dollar pairs, Silver, Gold & Bitcoin to my YouTube channel (Tim Stuyts). Safe trades!
Nice analysis. Keep updating thanks
+1 Reply
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