#EurUsd Bears have control, but are we nearing a bottom.
With Non-Farm Payrolls and Average Hourly Earnings coming out in a few hours these are my observations.
#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.
From the #dxy (Dollar Index) which is heavily weighted in #euro, we can see a small Bull Flag breakout. Divergence on the MACD, do think the #dollar is going to start weakening later this year.
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.
From the #dxy (Dollar Index) which is heavily weighted in #euro, we can see a small Bull Flag breakout. Divergence on the MACD, do think the #dollar is going to start weakening later this year.
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