EUR/USD is showing a clear downtrend with the hourly chart moving sideways with a bearish tendency. Daily Resistance has been tested once and failed which caused the downtrend to continue. A New H4 Institutional Order Flow Area (aka Supply & Demand) which could push the downtrend further.
The Monthly trend is Bearish
The Weekly trend is Bearish
The Daily trend is Bearish
The H4 trend is Bearish
The H1 trend is moving sideways with a bearish tendency
We are going with the general trend but are slightly concerned about the hourly sideways movement.
Institutional Order Flow Areas (aka Supply & Demand):
Demand – Large amount of Institutional Buy Orders
Supply - Large amount of Institutional Sell Orders
A New untested H4 Institutional Order Flow Area (aka Supply & Demand) area have been created which pushed the trend down.
COT (Commitment of Traders) Report Analysis:
The Commitments of Traders (COT) is a report issued by the Commodity Futures Trading Commission (CFTC). It aggregates the holdings of participants in the U.S. futures markets (primarily based in Chicago and New York), where commodities, metals, and currencies are bought and sold.
COT (Commitments of Traders) increased their long positions on the USD and also increased their long positions and decreased their short positions, currently 80% Long Positions and 20% Short Positions, which means that the USD will start increasing in strength. This simply means the they are position building with a steady increase of long positions over the last few weeks.
No COT information available on the SGD.
Currency Strength Indication:
Monthly:
The USD is weaker than the SGD with a LOW WEAKNESS
Weekly:
The USD is weaker than the SGD with a LOW WEAKNESS
The currency strength indication is IN LINE with this trading idea
Fundamental Consideration:
Nothing worthy identified.
Retail FX Community Outlook:
Retail Community Outlook is a statistical analysis on what the market perception is under Retail Traders like you and me, this does not include Banks and big Corporate Financial Institutions.
The Retail Community Outlook for this trade is as follows:
Around 9.5 lots positions SHORT – 40%
Around 14.5 lots positions LONG – 60%
This trade is SHORT – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
Entry:
Immediate Entry but you could expect a slight uptrend before a reversal
Alternatively enter with a sell limit at around: 1.35853
Take Profit:
TP1: 1.35469
Stop Loss:
Stop Loss at around 1.36119
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
The Monthly trend is Bearish
The Weekly trend is Bearish
The Daily trend is Bearish
The H4 trend is Bearish
The H1 trend is moving sideways with a bearish tendency
We are going with the general trend but are slightly concerned about the hourly sideways movement.
Institutional Order Flow Areas (aka Supply & Demand):
Demand – Large amount of Institutional Buy Orders
Supply - Large amount of Institutional Sell Orders
A New untested H4 Institutional Order Flow Area (aka Supply & Demand) area have been created which pushed the trend down.
COT (Commitment of Traders) Report Analysis:
The Commitments of Traders (COT) is a report issued by the Commodity Futures Trading Commission (CFTC). It aggregates the holdings of participants in the U.S. futures markets (primarily based in Chicago and New York), where commodities, metals, and currencies are bought and sold.
COT (Commitments of Traders) increased their long positions on the USD and also increased their long positions and decreased their short positions, currently 80% Long Positions and 20% Short Positions, which means that the USD will start increasing in strength. This simply means the they are position building with a steady increase of long positions over the last few weeks.
No COT information available on the SGD.
Currency Strength Indication:
Monthly:
The USD is weaker than the SGD with a LOW WEAKNESS
Weekly:
The USD is weaker than the SGD with a LOW WEAKNESS
The currency strength indication is IN LINE with this trading idea
Fundamental Consideration:
Nothing worthy identified.
Retail FX Community Outlook:
Retail Community Outlook is a statistical analysis on what the market perception is under Retail Traders like you and me, this does not include Banks and big Corporate Financial Institutions.
The Retail Community Outlook for this trade is as follows:
Around 9.5 lots positions SHORT – 40%
Around 14.5 lots positions LONG – 60%
This trade is SHORT – we go AGAINST majority of retail traders, which is GOOD depending on where the COT analysis for this trade currently is.
Entry:
Immediate Entry but you could expect a slight uptrend before a reversal
Alternatively enter with a sell limit at around: 1.35853
Take Profit:
TP1: 1.35469
Stop Loss:
Stop Loss at around 1.36119
Good Luck – Trade Responsible
Use 1% risk per Position!
Always strive to continuously improve your trading strategy and knowledge
“Rise and Rise Again until Lambs becomes Lions”
Comment:
My trading analysis score for this trade idea is 42.5% which means it is considered as a HIGH RISK trade