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EURUSD: Effects of Bank of China!

FX_IDC:EURUSD   Euro / U.S. Dollar
1369 1 32
The unexpected decision of the Central Bank of China has shaken international markets, and this move could slow down the decision of the Fed to a first increase in interest rates in September.
Our view remains the same: rates on hold until December, but even if they increase first, the increase should be limited and therefore already discounted by the market.
Although we design our "setup" on lower time frames (h4 and daily), our analyzes are based mainly on the higher time frames (weekly and monthly). For this reason, we do not be surprised if the market were to be attracted by our levels of medium to long term.
We can not publish our weekly analysis (reserved only to our subscribers on nonsolotrading.com), but we can share a bullish pattern on the monthly time frame: Bullish ENGULFING .
Certainly we do not see a reversal in the long term, a "race" towards equality is still absolutely possible, but at the technical level, at the moment we do not have the technical elements (models, patterns, ...) which can lead in the short term to evaluate this scenario .

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