Hello traders,
Price is setting up for another drop that could take this pair into the 0.95 level. DXY still has a lot of potential to move higher and the euro has not yet hit the floor so expect another leg lower.
Week commencing 5th September: A sell setup will appear on the lower timeframes so you could enter on those. I think based on the price action from Friday afternoon (after NFP) this move could take place on the Monday (5th) but if we don't see the move happen immediately, the euro might make one more push for upside (towards the 1.009x level) before the reversal.
I will provide updates under this post so please follow.
Trade safely.
Ike
Price is setting up for another drop that could take this pair into the 0.95 level. DXY still has a lot of potential to move higher and the euro has not yet hit the floor so expect another leg lower.
Week commencing 5th September: A sell setup will appear on the lower timeframes so you could enter on those. I think based on the price action from Friday afternoon (after NFP) this move could take place on the Monday (5th) but if we don't see the move happen immediately, the euro might make one more push for upside (towards the 1.009x level) before the reversal.
I will provide updates under this post so please follow.
Trade safely.
Ike