Following the "Fed is done" narrative

25 Kas 2023

Fundamentals

USD: Light volume during the pre-Thanksgiving trading day - any weak US data can potentially move the market. The miss on Manufacturing PMI triggered a short-term bearish sentiment, another excuse to follow the narrative that the Fed is done hiking rates.

EUR: Although the economic data wasn't so appealing, I stick with the strong EUR seasonals (EUR is expected to grow until the end of the year). Euro COT reports look good as well, as net long exposure is gradually growing away from 0.

Technical & Other

Setup: TC(B)
Setup timeframe: 4h
Trigger: 1h
Medium term: Up
Long-term: Up
Min target: triangle height
Risk: 0.35%

27 Kas 2023

İşlem elle kapatılmış

Closed before the US news as the market still stayed around my entry price