Good morning,
Over the weekend, the Dollar Index made an upward move, but it now appears to be reversing its course and heading lower. As for the EUR/USD pair, it seems to have opened in line with the previous Friday's balance, as observed on the TPO chart volume statistics.
Our team, the Global Chart Surfers, has been holding short positions since last week. We're currently exercising caution and refraining from making hasty decisions. However, if I were to identify a potential trade opportunity, the 1.05323 level could be an interesting area to watch. If it experiences a retracement during the London session, a reaction from that point might present a discounted price to enter a short position.
It's crucial to remain patient and observe how Monday's trading unfolds. The current chart analysis suggests a bearish outlook, and there appear to be numerous support levels further down to target. So, for now, exercising prudence and refraining from rushing into trades is advisable.
Over the weekend, the Dollar Index made an upward move, but it now appears to be reversing its course and heading lower. As for the EUR/USD pair, it seems to have opened in line with the previous Friday's balance, as observed on the TPO chart volume statistics.
Our team, the Global Chart Surfers, has been holding short positions since last week. We're currently exercising caution and refraining from making hasty decisions. However, if I were to identify a potential trade opportunity, the 1.05323 level could be an interesting area to watch. If it experiences a retracement during the London session, a reaction from that point might present a discounted price to enter a short position.
It's crucial to remain patient and observe how Monday's trading unfolds. The current chart analysis suggests a bearish outlook, and there appear to be numerous support levels further down to target. So, for now, exercising prudence and refraining from rushing into trades is advisable.
Daniel P. Fadejev