EURUSD 28th MAY

28 maj 2023

Starting off the week with EURUSD, our recent sessions have been characterized by a bearish sentiment, with some successful entries. Currently, we are maintaining a bearish outlook and closely monitoring the price action. While we anticipate a shift to a bullish trend, we are waiting for clear indications before adjusting our stance.

Analyzing the swing-to-swing narrative of this pair, we have observed a significant sell-off, with liquidity being swept on the hourly timeframes. Consequently, we are not overly concerned about sudden moves to clear highs.

Considering the overall fundamentals, over the weekend, the US has reached a deal to extend and increase their debt default. This development suggests the potential for a substantial market movement upon the opening.

We'll be closely monitoring market openings and price action throughout the week. If you find this analysis useful, let us know in the comments below and hit the boost button to show your support. Here's to a successful week of trading!