EURUSD | Perspective for the new week | Follow-up details

It was was a choppy situation for the EURUSD as price action was caught within a channel between the 1.04450 and 1.03150 level through out the course of last week's trading session. The bullish momentum that started two weeks ago was strongly resisted by sellers around the 1.03750 - a level that shares a confluence with the bearish trendline on the daily time frame. All bullish attempt at this juncture in the market appear to be negated by the bears as I am of the opinion that we might be witnessing a breakdown of the 1.03150 level to signal a retracement phase in the coming week(s).

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Past performance is not necessarily indicative of future results.

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The week as started on a bearish tone as the price finally breaks down the neckline structure identified in the video @ 1.03150. If you have missed this move, let's see if the market will present another opportunity in the form of a retest of structure to join the potential decline.

Good morning

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This was duly explained during our live session today (video uploaded on youtub); Securing the current sell position as buying pressure is identified at the 1.02300 zone. Since we already have a breakdown of the neckline at the 1.03150 level, a retest of this structure might incite another wave of bearish momentum. Update coming soon

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Secure sell position as we continue to monitor price action

Good morning

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After being taken out of the sell position with a small profit, let's see how the price will react to the neckline area at the 1.03150 level. Selling pressure around this zone might incite a bearish momentum. Remember that we have a major event coming up tomorrow (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).

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We continue to monitor price action, price is back within the 1.03150 neckline and there are two possible options that are likely to happen from this juncture. These are illustrated with the arrows on the chart. We shall also take into consideration that there are major events coming up today (Durable Goods Orders, Nondefense Capital Goods Orders & FOMC Minutes ).

Good morning

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S&P Global/BME Composite PMI coming up 5 minutes from now, I still look forward to selling opportunities from the current structure.

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FOMC coming up in 10 minutes... A huge spike is very likely at this juncture.

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Price is back within the sell window around the key level at 1.03750 area. FOMC in a couple of minutes

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So, I must agree that I missed this bullish move. Congrats to those who took advantage of this move... Looking forward for another opportunity

Good morning

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Selling pressure was identified below the 1.04500 level - an area that has a memory for selling potential in the last couple of weeks.

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Secure position

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Position secured as price action is been monitored

Good morning

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This was duly explained during our live session today (video uploaded on my youtub channel); Selling pressure continues as the price finally breaksdown the key level at the $1.03750

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Position secured; I am done for the week.
Congratulations on the profitable journey this week!