Market Analysis and Cautious Outlook for EUR/USD Amid Geopolitic
Currently, I maintain a neutral view on EUR/USD as it appears that the major move has already transpired, and the possibility of consolidation exists. Additionally, there is significant news regarding war between Palestine and Israel, prompting a flight to safe-haven assets like the DXY or Gold. Notably, over the past few weeks, both the DXY and gold have been moving in the same direction.
Regarding EUR/USD, the weekly Bearish PD a suggests that the Euro may still have room to decline or consolidate at its current level. Keep in mind that while wicks play tricks, the body of the candlestick provides a more accurate story.
On the daily chart, Euro attempted a Breakout Strength (BOS) but GBP, but the bond market failed to reach the desired high. This could indicate a possible Bearish SMT for the Euro and the GBP on the daily chart.
The one concern I have is the weekly close of the DXY, which should have ideally closed above 106.651 but fell short. As a result, I'm exercising extra caution when considering new swing entries. Let's observe how the upcoming week unfolds and how the probabilities play out. Always maintain sound risk management practices.
Regarding EUR/USD, the weekly Bearish PD a suggests that the Euro may still have room to decline or consolidate at its current level. Keep in mind that while wicks play tricks, the body of the candlestick provides a more accurate story.
On the daily chart, Euro attempted a Breakout Strength (BOS) but GBP, but the bond market failed to reach the desired high. This could indicate a possible Bearish SMT for the Euro and the GBP on the daily chart.
The one concern I have is the weekly close of the DXY, which should have ideally closed above 106.651 but fell short. As a result, I'm exercising extra caution when considering new swing entries. Let's observe how the upcoming week unfolds and how the probabilities play out. Always maintain sound risk management practices.
Comment:
Lets the probabilities play out
Comment:
a little bit drawdown bt hopefully i think we made a high of week now coming day will see toward downside, also we have coming this friday as NFP so extra cautious