EUR TO WEAKEN THIS WEEK - GERMANY GOING INTO RECESSION
Hi Everyone,
This is my fundamental/chart analysis for EUR/USD, after seeing last week's data COT report + order blocks being taken out, a temporary bearish trend has emerged, for now until the main fundamentals change (I believe in July) EUR should continue to weaken against US Dollar, that being said, Debt ceiling talks, Ukraine war and overall recession talk will be daily catalyst for pairs down or up movement.
Follow my supply boxes to get an idea how to trade the pair, the pair should break the box below or above it will be a strong signal to go short or long.
This is my fundamental/chart analysis for EUR/USD, after seeing last week's data COT report + order blocks being taken out, a temporary bearish trend has emerged, for now until the main fundamentals change (I believe in July) EUR should continue to weaken against US Dollar, that being said, Debt ceiling talks, Ukraine war and overall recession talk will be daily catalyst for pairs down or up movement.
Follow my supply boxes to get an idea how to trade the pair, the pair should break the box below or above it will be a strong signal to go short or long.
Comment:
Interesting movement from EUR/USD nothing to trade yet, waiting for more data to come through.
Trade closed: target reached:
Perfect trade, target reached, now watching the supply box to see further action downside or upside.
Trade closed manually:
Last TP reached on the pair beautiful trade for the week.