Market gave a reversal candle yesterday. EURUSD was strong and we got only a slight rejection off the PHOD (GBPUSD short was better). What is the market telling us?
Market is still above the 2 zones and thus bias is to the upside. Would like to see a retest of the zone, find support to go long to target 1.0942. If 1.0942 trade first instead during European session, would look for divergence to short back down. And if market somehow trade to 1.0970 on CPI news, look for shorts down back to OP. IMO, though DXY printed a bearish candle yesterday, it looked much supported, thus would be open to some USD strength today.
Market is still above the 2 zones and thus bias is to the upside. Would like to see a retest of the zone, find support to go long to target 1.0942. If 1.0942 trade first instead during European session, would look for divergence to short back down. And if market somehow trade to 1.0970 on CPI news, look for shorts down back to OP. IMO, though DXY printed a bearish candle yesterday, it looked much supported, thus would be open to some USD strength today.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.