From the start of the year, #eurusd has struggled to gain any real traction and this multi-week Head and shoulders pattern has been playing out.
#eurusd Formed a textbook Head & Shoulders pattern. I do believe there are some liquidity voids and orders sitting in the lower regions as per the chart.
The COT data from January the 28th shows us that Asset Managers are still net Long, but adding short exposure.
My expectation is that NFP beats forecasts. #eurusd washes out longs before we see a meaningful pullback.
#eurusd #nfp #cpi #markets #technicals #fundamentals #xauusd #currencies #commodities #dollar #euro
#eurusd Formed a textbook Head & Shoulders pattern. I do believe there are some liquidity voids and orders sitting in the lower regions as per the chart.
The COT data from January the 28th shows us that Asset Managers are still net Long, but adding short exposure.
My expectation is that NFP beats forecasts. #eurusd washes out longs before we see a meaningful pullback.
#eurusd #nfp #cpi #markets #technicals #fundamentals #xauusd #currencies #commodities #dollar #euro