EURUSD | Perspective for the new week

The last 3 - 4 weeks have seen prices continue to climb hereby finding uniform higher highs and higher lows which culminated at the breakout of the $1.0000 area during the course of last week's trading session. Will the breakout of the key level at the $1.0000 mark be a true or false one? As we look forward to a variety of high-impact events for the week, we will likely see structures anticipating this event at the beginning of the week, hence the need to prepare ourselves for significant signals. In this video, I have explained in detail what my expectations are and if there happens to be a contrary perspective at the beginning of the week, there will be an update in this regard in the comment section on my tradingview platform.

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Trade active:

Price still trading right below the key level at the $1.00 mark but since the beginning of the week, price action has been caught with a flat channel between $0.99650 and $0.99450 hereby emphasizing the indecision in the market right now. So, let's be patient and wait for a signal in the form of either a breakout or a breakdown of the current structure.

Good morning

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UPDATE
breakdown/retest of the $0.99450 level signals a bearish signal. Looking out for selling pressure below the $0.99450 level to add a position.

Trade active:

This was discussed during our live session today (video uploaded on my youtub); Price is running with 100pips in total as the second position was triggered below the $0.99200 level. Time to secure position

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UPDATE

Price has continued in our direction with a total of 100 pips. Time to secure psotion

Trade closed manually:

Trade closed manually as the price comes back to the entry zone of the second position at the 0.99200 level. Could this bullish move incite the second wave of the bullish momentum that started last week? So, patience is required at this juncture in the market as there are two expectations here;
i. Are we going to be selling pressure below the 0.99450/0.99200 zone to join the decline?
ii. Will there be a significant breakout/retest to confirm joining the potential bullish momentum?
Take note that we have an high impact event coming up today (see screenshot on the chart) - ISM
Good morning

Trade active:

Following the breakout of the newly identified trendline; I shall be using the $0.99200 level as a yardstick for buying opportunities. Detail explanation during the live studio session today (upload on my youtub)

Trade closed: stop reached:

Update coming soon

Comment:

No decision yet as price action is still being monitored... An update coming as soon as a new structure is identified. It is worth noting that there are a series of high-impact events today which is highly likely to be a catalyst for price movement (screenshot on the chart)

Good morning

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UPDATE

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Fed Interest Rate Decision, Fed's Monetary Policy Statement, and FOMC Press Conference coming in up very soon... Protect existing position.
Good evening

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Buying breakout/retest of $0.98950
Selling breakdown/retest of $0.98600

Trade active:

Secure position

Trade closed manually:

Taken out as price comes back to entry zone. Let's be patient here and allow the haphazard movement of price action which is a result of the recent high-impact even to settle before making any further actions

Trade active:

Woke up late this morning. I missed this bearish move as the price retested the structure at 0.98400 which lines up with the trendline. Let's see if the market will present a second chance to join the decline.

Good morning

Trade active:

As we continue to wait for structures to join a possible trend continuation. The last 5 hours have seen selling pressure at the retest of the bearish trend line to raise the hopes of taking a sell position at the breakdown/retest of the 0.97650 level. However, it is worth noting that price action has the potential to break out of this trend line to retrace back into the bullish trendline (daily timeframe) at around $0.98800 to anticipate a bearish continuation. Very important at this juncture is the need to be aware that anything that happens from now on shall be in anticipation of the NFP coming up later today... Update coming up soon

Good morning

Trade active:

We shouldn't get too excited at the spike that broke out of the trendline as this is a result of the NFP which is positive data for the USD. So, at this point we need to be patient and see how the price is going to relate to the structure at 0.98800 where we can witness two scenarios;
i. breakout/retest of that level to incite a trend continuation to the upside or
ii. reversal pattern followed by selling pressure in the lower time frame to incite the second phase of the bearish momentum which started at the beginning of the week.
Update coming up soon

Comment:

I must admit that this move was missed as the market did not present a second chance to join the rally but it's ok, we live to trade another day! Above all, it was a profitable week but could have made more.

Happy weekend to you!