From the technical view:
1. From the Monthly perspective, price already sitting inside the major resistance and create a big W pattern, we may see a huge downside movement of EURUSD to retest the neckline of W pattern (dot line).
2. From the Weekly perspective, price was broke the major support level, more confirmation for the downside movement.
3. From the Daily perspective, the price created a M pattern; we may see a huge downside moment after the price tested the neckline of the M pattern.
From the fundamental view:
1. Big players switch their bullish bias to the bearish bias on the EUR.
2. In the new report, the long position of EUR was decreased 357 and short position of EUR was decreased 3,703; bringing the net position to 93,322 from 138,365, meaning that they are not interested to buying EUR, and start to shorting EUR.
3. Combine with TA and FA, move to the downside of the EURUSD is expected.
How to approach EURUSD?
1. Monitoring the daily timeframe and wait the neckline retested, after that monitoring the lower timeframe to find the short opportunity, if your rules of the strategies are fulfilled.
2. Just short when the market open is not a good idea, because you will miss your area of value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.
1. From the Monthly perspective, price already sitting inside the major resistance and create a big W pattern, we may see a huge downside movement of EURUSD to retest the neckline of W pattern (dot line).
2. From the Weekly perspective, price was broke the major support level, more confirmation for the downside movement.
3. From the Daily perspective, the price created a M pattern; we may see a huge downside moment after the price tested the neckline of the M pattern.
From the fundamental view:
1. Big players switch their bullish bias to the bearish bias on the EUR.
2. In the new report, the long position of EUR was decreased 357 and short position of EUR was decreased 3,703; bringing the net position to 93,322 from 138,365, meaning that they are not interested to buying EUR, and start to shorting EUR.
3. Combine with TA and FA, move to the downside of the EURUSD is expected.
How to approach EURUSD?
1. Monitoring the daily timeframe and wait the neckline retested, after that monitoring the lower timeframe to find the short opportunity, if your rules of the strategies are fulfilled.
2. Just short when the market open is not a good idea, because you will miss your area of value.
The result might not follow my analysis, this analysis is based on the TA & FA perspectives.
Comment down below let me know your view on EURUSD or which pairs you would like to me analyze in the future.
Kindly visit my profile and get more free analysis every single day.