As per COT data snapshot posted in our channel, our view on EURUSD remain bullish thoughout this week. We will be waiting for optimal entry to enter buy. Our target is 1.07727
You may see decrease in volume, however this doesnt mean reversal is coming. According to COT report, we see that alot of long and short postitions were closed by hedge funds and banks, therefore there is a decrease in volume. We suspect, they would be entering buys at a better price.
We will be looking to enter buys around 1.07000 if all confluences are in favour and there is a confirmation on LTF
My thoughts are that DXY is shifting bullish, especially if it breaks the current 4H supply. Expecting a short term pullback which makes me think that EU is bearish for the week. But I guess alot of that depends on what Powell has to say today and what CPI data has in store for us on Thursday.
Currently in 2 shorts on EU holding runners through the daily range. And if we get a pullback during NY to my targeted level, I will enter another scale-in. But looking at what happened since NY opened today, guessing, we aren't going to see that pullback for scale-in.
But agree, with the EU bullish bias and buying at better pricing. Just not sure if it will happen until the end of the week after CPI is announced.