EURUSD - Time to trap the herd going long?
As mentioned in my previous analysis on EURUSD, what I was looking for came to pass. The large swing move did not occur yet, so i'm anticipating one more spike up higher before we head to the downside.
I have a few things leaning towards my short bias:
1. Seasonal tendency for the USD is stronger. This is suspect for XXXUSD pairs to be going up.
2. May's monthly candle barely went lower in terms of Power of 3 manipulation, meaning i'm leaning more towards the manipulation being on the upside rather than downside.
3. DXY has my signature R2F Gap where I anticipate a reversal on EURUSD, and EURUSD has a nice area of inefficiency and a Breaker, which are both my favorite models.
4. Other EURUSD correlated assets are engineering Sellside Liquidity for later.
A long could be taken higher, but I will be stalking the short setup i've been waiting for. I was open to it being the recent spike lower, but I see now the market is trying to do a multiple switcheroo. This will likely be the last one.
So let's see what happens! Exciting times!
- R2F
I have a few things leaning towards my short bias:
1. Seasonal tendency for the USD is stronger. This is suspect for XXXUSD pairs to be going up.
2. May's monthly candle barely went lower in terms of Power of 3 manipulation, meaning i'm leaning more towards the manipulation being on the upside rather than downside.
3. DXY has my signature R2F Gap where I anticipate a reversal on EURUSD, and EURUSD has a nice area of inefficiency and a Breaker, which are both my favorite models.
4. Other EURUSD correlated assets are engineering Sellside Liquidity for later.
A long could be taken higher, but I will be stalking the short setup i've been waiting for. I was open to it being the recent spike lower, but I see now the market is trying to do a multiple switcheroo. This will likely be the last one.
So let's see what happens! Exciting times!
- R2F
R2F
