Hey tradomaniacs,
looking at EUR/USD I can see a possible long-scenario in order to continue the trend.
Technicals:
The previous fakeout by DXY caused a sell-off in EUR/USD which instantly stopped by the retest of the current two trendlines and key-support-zone.
Currently we can see a Flat-Type-Correction which is very typical for the 4th-Wave of an entire Impulse.
As you can see in the D1-Chart: The market is currently in an uptrend and kinda consolidated ahead the NFP`s.
With the previous fakeout to the downside (SL-FISHING) and the retest of the trendline and the support we might see more BULLISH CONFLUENCE as buyers got liquidated during the NFP`s.
The result has been a double-botton which is giving us another evidence for a move upwards.
A 5th wave is very likely at least according to E.W.
Fundamentals:
The previous NFP-Data were overall bearish for DXY as the positive Figures were a confirmation for the current low monetary policy of the FED.
The market will probably price in more liquidity for the market and so more inflation in the USA which will probably boost EUR as it has a weight of 57,5% in the US-DOLLAR-BASKET.
IMPORTANT: The European Central Bank has its monetary policy meeting this week!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
looking at EUR/USD I can see a possible long-scenario in order to continue the trend.
Technicals:
The previous fakeout by DXY caused a sell-off in EUR/USD which instantly stopped by the retest of the current two trendlines and key-support-zone.
Currently we can see a Flat-Type-Correction which is very typical for the 4th-Wave of an entire Impulse.
As you can see in the D1-Chart: The market is currently in an uptrend and kinda consolidated ahead the NFP`s.
With the previous fakeout to the downside (SL-FISHING) and the retest of the trendline and the support we might see more BULLISH CONFLUENCE as buyers got liquidated during the NFP`s.
The result has been a double-botton which is giving us another evidence for a move upwards.
A 5th wave is very likely at least according to E.W.
Fundamentals:
The previous NFP-Data were overall bearish for DXY as the positive Figures were a confirmation for the current low monetary policy of the FED.
The market will probably price in more liquidity for the market and so more inflation in the USA which will probably boost EUR as it has a weight of 57,5% in the US-DOLLAR-BASKET.
IMPORTANT: The European Central Bank has its monetary policy meeting this week!
LEAVE A LIKE AND A COMMENT - I appreciate every support! =)
Peace and good trades
Irasor
Wanna see more? Don`t forget to follow me.
Any questions? PM me. :-)
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