Hello traders,
Since it's Friday and regarding instability in the middle east that could be spread to the world, we decide to set a mid-term trade!
Fundamentally EURUSD is going to be bullish:
There are no basic data releases during the American session, so all attention will be on the speeches of FOMC members Patrick T. Harker and Loretta Mester. Given that Federal Reserve Chairman Jerome Powell made it clear yesterday that no one expects to hike rates suddenly, it is unlikely that we will hear anything new from them this week that they haven't already indicated.
So EURUSD might be bullish in next days, the only setback is weekly R1 in the week of trend changing, if we are really in a trend-changing-week, R1 and S1 could be stronger than in a trending week!
Long-term technically:
EURUSD has formed new HH and HL
To do:
Wait for liquidity hunt! If the 1.0549 has been touched, wait for bullish CHOCH or BMS, then put your Entry point around the bullish OB+!
SL is better to be around 1.0505 ( may be some pipets lower)
TP could be below the 1.0600
You better close most of your position before weekend!
Best regards, @AliSignals
Since it's Friday and regarding instability in the middle east that could be spread to the world, we decide to set a mid-term trade!
Fundamentally EURUSD is going to be bullish:
There are no basic data releases during the American session, so all attention will be on the speeches of FOMC members Patrick T. Harker and Loretta Mester. Given that Federal Reserve Chairman Jerome Powell made it clear yesterday that no one expects to hike rates suddenly, it is unlikely that we will hear anything new from them this week that they haven't already indicated.
So EURUSD might be bullish in next days, the only setback is weekly R1 in the week of trend changing, if we are really in a trend-changing-week, R1 and S1 could be stronger than in a trending week!
Long-term technically:
EURUSD has formed new HH and HL
To do:
Wait for liquidity hunt! If the 1.0549 has been touched, wait for bullish CHOCH or BMS, then put your Entry point around the bullish OB+!
SL is better to be around 1.0505 ( may be some pipets lower)
TP could be below the 1.0600
You better close most of your position before weekend!
Best regards, @AliSignals