I see a buy opportunity around 1.02 (round level) using a contrarian approach to myfxbook outlook (sentiment tool):
1 The retail bullish sentiment (86 prercent bullish) had been exhausted for now and strated to subside. Hence we should see the change in trend. Keep an eye on retail positinig at www.myfxbook.com/com...unity/outlook/EURUSD as price moves opposite to that.
2 Price hit important psychological level 1.02
3 Price reaching weekly S5 where we typically see move back to S4.
4 Price reaching TD breakout projection, where price typically gets exhausted.
For educational purposes only.
1 The retail bullish sentiment (86 prercent bullish) had been exhausted for now and strated to subside. Hence we should see the change in trend. Keep an eye on retail positinig at www.myfxbook.com/com...unity/outlook/EURUSD as price moves opposite to that.
2 Price hit important psychological level 1.02
3 Price reaching weekly S5 where we typically see move back to S4.
4 Price reaching TD breakout projection, where price typically gets exhausted.
For educational purposes only.
Trade closed: stop reached