NikitaMarket

EURUSD. High probability of continuation of the upward movement.

Long
FX:EURUSD   Euro / U.S. Dollar
At the moment, the trading instrument is likely to continue its upward movement, this is indicated by the liquidity withdrawal marked with a red circle on the chart, besides, the structure of the instrument is still ascending.

The EUR/USD COT report data reflects a noticeable increase in bullish sentiment for the European currency, expressed as a 6% increase in buyers and a 1% increase in market capitalization.
COT report data on the dollar index (USDX) reflects the growth of bullish sentiment on the US currency (especially among hedgers). Large speculators actively reduced selling and buying, which led to a slight increase in the net position for USD growth. Hedgers began to build up positions on the growth of the American. At the same time, the net position began to grow from levels that were minimal over the past almost 22 months. Continuation of this trend may contribute to the growth of the US currency.

Based on the data of CoT reports and co-directional bullish forces (USDX), (EUR), there is a high probability of a flat movement of the trading instrument.

Based on my vision of the market, I can add the following: if the price overcomes 1.11000 and consolidates with the body of the candle above, this will be a confirmation of the continuation of the upward movement, but if the price consolidates below 1.08300, this will be a confirmation of the beginning of the correction. For now, my priority is to keep growing.

Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.

BOS - Violation of the structure.
$$$ - Liquidity.
HH - Higher High.
HL - Higher Low.

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