Today the market will be focused on the CPI, because this date could bring back eurusd to follow his main trend (bearish). If a positive will come out, we could see a strong dollar, on the contrary, a negative CPI could give further fuel to the rebound of the euro. This is not a intraday setup, then we should not be in a hurry to enter the market, it isnot important to get the minimum or the maximum, but being able to follow the trend, so we are waiting for the US CPI. On Daily Time Frame, we see the development of a bearish AB=CD. Our setup has a good R/R Ratio, so it will be a sufficient size reduced to optimize your money management Happy weekend to all and good trading!
Entry looks perfect now above current daily high. :)
Akshay15
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It's 50-50 situation, Still main trend of EUR remains bearish. But on weekly DXY chart I can see dark cloud cover pattern which may be a signal that DXY would come down & this means EUR would go up , however these are all opinions & as legendary speculator jesse livermore said "Don’t trust your own opinion or back your own judgment until the action of the market itself confirms your opinion."
TheAnonymousBanker
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agreeee!
TheShakeOut
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It seems to be setting up for a nice short but my analysis says that we have to wait for confirmation on Monday