Hello folks, today I would like to give my opinion about the euro. As usual, the market is building liquidity underneath and going up out of nowhere, whilst leaving unmitigated bullish OB+FVG right before the FED meeting. I think the price will take out the old high before or whilst the FED meeting and reverse to the downside. I expect a low resistance liquidity run meaning a sharp drop to the bullish OB+FVG. from there I would like to see consolidation and continuation upwards.
Comment:
The price took out the sell-side liquidity and traded right into the bearish OB, whilst leaving a trail of liquidity behind, which will be fuel to the next bearish move.
Inflation remains elevated, the job market is still tight and FED raised interest rates by 25 BPS. With geopolitical tensions rising and economic uncertainty USD remains to be a safe haven asset.