Looking for a long on EURUSD
Confirmations:
First of all, when I'm trading USD pairs I'm ALWAYS looking at DXY (Dollar Index). The DXY shows the strength of the dollar and most USD have a really good direct correlation if it is USD/XXX and an inversed correlation if it is xxx/USD.
DXY right now broke 1h structure to the downside so I'm expecting Dollar bearish at least for this week.
EUR/USD at the same time that DXY broke structure to the downside broke structure but to the upside. Creating a higher high.
Right now I'm waiting for a pullback to enter for a buy.
My entry is sitting inside Fibonacci 71%-88.6% and also an imbalance.
In addition to that, the last down candle that started the strong move up cleared some liquidity and closed an imbalance before the move.
I hope y'all liked my analysis! Let your opinion on the Comments! Let's talk!
Trade wisely, use proper risk and always have a stop loss!
Much Love!
Confirmations:
First of all, when I'm trading USD pairs I'm ALWAYS looking at DXY (Dollar Index). The DXY shows the strength of the dollar and most USD have a really good direct correlation if it is USD/XXX and an inversed correlation if it is xxx/USD.
DXY right now broke 1h structure to the downside so I'm expecting Dollar bearish at least for this week.
EUR/USD at the same time that DXY broke structure to the downside broke structure but to the upside. Creating a higher high.
Right now I'm waiting for a pullback to enter for a buy.
My entry is sitting inside Fibonacci 71%-88.6% and also an imbalance.
In addition to that, the last down candle that started the strong move up cleared some liquidity and closed an imbalance before the move.
I hope y'all liked my analysis! Let your opinion on the Comments! Let's talk!
Trade wisely, use proper risk and always have a stop loss!
Much Love!