Eur / Dollar trends tend to last from one NFP release to the next one. Interest Rates decision add fule to those trends. Hence I woul definitely look for bullish setup with the start of next month. At the moment its still too risky to go long but we are approaching the end of the downtrend trigerred by NFP realease on April 28th. Price action after June 2nd will tell what to expect in June.
Only 6 trading days left to the next NFP release on June 2nd. Hence I would expect some W reversal to form during those days. The countertrends dont go beyond the next NFP release day. I will also look for a change in retail positiong in sentiment data from bullish to bearish (counterretail sentiment approach). At the moment we are still heavily bullish.
EURUSD tends to reverse at round quarter levels. It did so at 1.10 and now we hittinf 1.075. It may be the bottom.
Only 6 trading days left to the next NFP release on June 2nd. Hence I would expect some W reversal to form during those days. The countertrends dont go beyond the next NFP release day. I will also look for a change in retail positiong in sentiment data from bullish to bearish (counterretail sentiment approach). At the moment we are still heavily bullish.
EURUSD tends to reverse at round quarter levels. It did so at 1.10 and now we hittinf 1.075. It may be the bottom.