Hi guys,
It looks like bearish momentum started to form once again.
DXY looks very strong and institutions were adding EUR shorts aggressively for the last 4 weeks.
There are a lot of liquidity zones to fill so it is very likely to be slow movement down. However, we have a lot of news left this week, so strong price action could occur after EU CPI or US PCE. I will be looking mostly to short the pair and maybe take some small intraday long trades.
1.072 seems to be the last zone of interest for me in this possible move.
It looks like bearish momentum started to form once again.
DXY looks very strong and institutions were adding EUR shorts aggressively for the last 4 weeks.
There are a lot of liquidity zones to fill so it is very likely to be slow movement down. However, we have a lot of news left this week, so strong price action could occur after EU CPI or US PCE. I will be looking mostly to short the pair and maybe take some small intraday long trades.
1.072 seems to be the last zone of interest for me in this possible move.