SOMEWHAT CONFLICTING OUTLOOK TO MY DXY DAILY CHART, HOWEVER THIS DAILY TL IS PRETTY STRONG.
SO WE CAN'T RULE OUT A BULLISH SURPRISE IN EURUSD AFTER FOMC.
ALSO RETAIL SSI DATA SHOWS A LOT MORE SHORTS STUCK IN EURUSD COMPARED TO LONGS.
SO THIS COULD BE EXTRA FUEL FOR THE SHORT SQUEEZE.
HOWEVER, I'M PUTTING A NEUTRAL OUTLOOK ON EURUSD - 2 REASONS.
ANY RIPS//PUMPS WILL GET SOLD SO EVEN IF WE HIT 1150//1175 AND WILL GET SOLD.
I WILL POST AN UPDATE AFTER DATA.
SO FAR NEUTRAL - I DON'T RECOMMEND ANY TRADES, UNLESS YOU WANT TO TRADE A BREAK OUT PLAY IN EURUSD
BEFORE DATA.
SO WE CAN'T RULE OUT A BULLISH SURPRISE IN EURUSD AFTER FOMC.
ALSO RETAIL SSI DATA SHOWS A LOT MORE SHORTS STUCK IN EURUSD COMPARED TO LONGS.
SO THIS COULD BE EXTRA FUEL FOR THE SHORT SQUEEZE.
HOWEVER, I'M PUTTING A NEUTRAL OUTLOOK ON EURUSD - 2 REASONS.
ANY RIPS//PUMPS WILL GET SOLD SO EVEN IF WE HIT 1150//1175 AND WILL GET SOLD.
I WILL POST AN UPDATE AFTER DATA.
SO FAR NEUTRAL - I DON'T RECOMMEND ANY TRADES, UNLESS YOU WANT TO TRADE A BREAK OUT PLAY IN EURUSD
BEFORE DATA.
Comment:
TARGET FOR BULLS UPGRADED TO 1.1240 NEXT 3-6 DAYS. SEE LATEST H4 UPDATE ON DXY. THANKS.