On the Bigger picture,
EUR/USD triggered two TP Levels,
awaiting for the lower ones.
How much Lower can $EUR/USD go ?
It's been a very good Summer shorting Euro throughout Q3/2023 .
We also longed the up-rise bounce last year lows at 0.95 $ and ride it all the way by end year
(Two Quarters opened position)
Do not be trapped by the most recent price action of $EUR/USD.
Euro is just gaining a little momentum by bouncing at technical levels,
as well fundamentally speaking in relation to
DXY
which has been on a rally of 11 Consecutive Weekly Green Candles.
(so it may be a time for markets relief, considering that
DXY
is over-extended and under lots of resistances points like that of Golden Zone Macro Fib that is currently being broken)
(Check the
DXY
Idea below)
Is it up from here ?
Looking to long $EUR/USD after having full confirmations of trends shift.
For now, its better to trade not against the trend and continue looking for shorting opportunities on EUR/USD
Or you can choose to be on the sidelines awaiting for confirmations on
DXY
to start showing weakness on what would be its 12 Weekly Strike !!!
*** NOTE
This is not Financial Advice !
Please do your own research with your own diligence and
consult your own Financial Advisor
before partaking on any trading activity
with your hard earned money based solely on this Idea.
EUR/USD triggered two TP Levels,
awaiting for the lower ones.
How much Lower can $EUR/USD go ?
We also longed the up-rise bounce last year lows at 0.95 $ and ride it all the way by end year
(Two Quarters opened position)
Do not be trapped by the most recent price action of $EUR/USD.
Euro is just gaining a little momentum by bouncing at technical levels,
DXY
which has been on a rally of 11 Consecutive Weekly Green Candles. (so it may be a time for markets relief, considering that
DXY
is over-extended and under lots of resistances points like that of Golden Zone Macro Fib that is currently being broken) (Check the
DXY
Idea below)
Is it up from here ?
Looking to long $EUR/USD after having full confirmations of trends shift.
For now, its better to trade not against the trend and continue looking for shorting opportunities on EUR/USD
Or you can choose to be on the sidelines awaiting for confirmations on
DXY
to start showing weakness on what would be its 12 Weekly Strike !!! *** NOTE
This is not Financial Advice !
Please do your own research with your own diligence and
consult your own Financial Advisor
before partaking on any trading activity
with your hard earned money based solely on this Idea.
The Wedge Pattern break-out from here with price jumping from green S/R
(decent weighted Support-Resistance Area) is a confirmation to go long.
Until then, price can reverse any moment to lower areas of 1.02 Level which is a Strong S/R Zone coinciding with A Macro Key Fib level of 0.618 ( Golden Zone )
TRADE SAFE