Hello Forex traders. The recent surge of the US 10Y yield really give the dollar index a push. We can clearly see the rising dollar index weights on gold, stock index as well as other currencies.
On the EURUSD daily chart, I'm watching how the zone of 1.661-1.673 will work as a defend holder. Two possible routes are marked on the chart:
1. Route 1: The holder works well and the pair manages to break the downtrend line. We should look for bullish setups on smaller timeframes, e.g. 60m, 240m.
2. Route 2: The holder fails to defend the sellers. We should look for bearish setups on 60m or 240m. I'm really keen for the pullback short setup in this case.
Personally, I favor the second route. What do you think?
Give me like if you're with me.
On the EURUSD daily chart, I'm watching how the zone of 1.661-1.673 will work as a defend holder. Two possible routes are marked on the chart:
1. Route 1: The holder works well and the pair manages to break the downtrend line. We should look for bullish setups on smaller timeframes, e.g. 60m, 240m.
2. Route 2: The holder fails to defend the sellers. We should look for bearish setups on 60m or 240m. I'm really keen for the pullback short setup in this case.
Personally, I favor the second route. What do you think?
Give me like if you're with me.
Note
It fell into the second route. On the 30m chart below, it got a quick retest after the zone being violated. The pullback strategy works. Note
It went down as expected. However, I'm estimated an pullback short opportunities in the coming days.
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plan your trade and trade your plan
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.