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0:0 Monthly timeframe
1:33 Daily timeframe
3:42 Daily timeframe
7:12 4hr timeframe
9:22 1hr timeframe 3:35 Bias
My Idea for for this week : with our quite, no news market conditions through the first 3 daily candles of the week, I can observe a decrease towards 1.09373 Daily support level or a tap into 1.09 weekly support. When U.S. Dollar CPI arrives on thursday, and it is expected to increase, I can visualize a blast off in favor of the EUR. Now, increasing inflation is technically not good for the USD and the federal reserves goals. The market often doesn't do what it's supposed to do. I'm favoring this idea. The opposite would be an increase to the highs of our range near 1.10236 weekly level and 1.1036 4hr resistance zone prior to CPI.. and then a consequential dump in favor of the USD. Either way we must remain flexible with our bias and let the market lead.
0:0 Monthly timeframe
1:33 Daily timeframe
3:42 Daily timeframe
7:12 4hr timeframe
9:22 1hr timeframe 3:35 Bias
My Idea for for this week : with our quite, no news market conditions through the first 3 daily candles of the week, I can observe a decrease towards 1.09373 Daily support level or a tap into 1.09 weekly support. When U.S. Dollar CPI arrives on thursday, and it is expected to increase, I can visualize a blast off in favor of the EUR. Now, increasing inflation is technically not good for the USD and the federal reserves goals. The market often doesn't do what it's supposed to do. I'm favoring this idea. The opposite would be an increase to the highs of our range near 1.10236 weekly level and 1.1036 4hr resistance zone prior to CPI.. and then a consequential dump in favor of the USD. Either way we must remain flexible with our bias and let the market lead.
Comment:
we've just touched into Daily support 1.09373 as expected. The 4hr candle just closed solid bearish right at our daily level. We had a bearish asian session, a beairhs london session. Price is ranging in my books so we may anticpate a bullish NY session from our Daily support level. the best approach is being prepared for both scenarios
