- US GDP
- US Durable Good Orders.
I have no idea with those pieces of data, I think this financial year should end with USDollar after FED Meeting.
We have few trading days of this week before most traders enjoy Holiday including me.
North America will close on 1pm Thursday and reopen on next Monday, so we have three day off.
However, I should share one idea of EURUSD .
- Look at on the chart, EURUSD rejected 1.0800 handle and showed a of bounce from this support. I thought that with FED rate hike decision, it would drive E/U lower this support; however, unfortunately, I was wrong. The downtrend lost momentum very fast and investors also traders realized that they should price for negative impact of higher rate. That why stock fell aggressively on last trading days of last week.
Strong resistance at 1.1050, this is also SMA100+SMA200
I am thinking about an option: Why do we buy EURUSD to 1.1050 ?
This is indeed a good idea because EURUSD price action indicates that it needs a strong catalyst to regain 1.0800 handle.
There is more room for a LONG position to 1.1050, I will try to BUY EURUSD to 1.1050 handle.