MikeOnlineable

EURUSD LONG, DXY fails, EXY continues

Long
FX_IDC:EURUSD   Euro / U.S. Dollar
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2
EURUSD is in difficult territory though I start to become more bullish . Reasons why:

Dollar index:
Chart: broke structure, it may show a reversal pattern ( H&S ) so no confirmation yet both bullish or bearish , nevertheless, it is still below structure so that is bearish .
Fundamentals: USA tends to surpluses, reduce spending, all bad for economy so usd lower?

EUR index:
Chart: still in short term 5 wave and no clear reversal signs close to resistance levels. Short term bullish .
Fundamentals: brexit uncertainty remains, though political environment improves. Tend to deficits again and monetairy policy is reducing so all slightly more bullish .

EUR/USD:
Chart: F-flag forming. moving higher in F flag.
Comment: it is a bit "bluffing" to publish something before the FED minutes, however I read the chart like this. situation can be a lot different in the charts after the minutes.
Trade closed manually: closed this trade with a nice profit.

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