DXY short term down, long term up along with the recent strength/news supporting euro fuels this trade. Targeting the low volume/(0.5-0.666 fib zone for the ideal short trade along with DXY strength soon to come. Trade could be tailored much better once we push up to the 1.128~ zone looking for clear rejection or market structure shift during that time. Will provide updates as EurUsd progesses. Enjoy :)
Comment:
Perfect rejection of EurUsd from the 1.128 area. Currently residing at our first TP1 of 1.08~. A loss of 1.08 would almost guarantee a new push for 1.05 area and continued DXY strength along with bearish market conditions/tail end risk could continue to see this flush for extended waves shown. Do not let price reverse against you more than 50% from the wave extensions shown(Do not get greedy).
Comment:
We've now hit 2 TPs on this short and are entering a chop zone of 1.035-1.05.