Possible Cypher pattern is forming on EURUSD pair.
I expect lower than expected NPF tomorrow which will cancel every chance of hiking in September.
Longs
I expect an entry point of 1.1110 which is based on my previous idea (link below). Also there is an unclosed gap near 1.1120 and tomorrow is a perfect moment for closing it.
It is very obvious that there will be no rate hike before the elections and every USD strengh should be used to add longs in this pair.
Gap was formed at 1.1160 after the Services stats went out. I will open a long position on a retracement and closing of this gap. Mind that 1.1110 and 1.1070 are still in play but it definitely shouldn´t walk below 1.10 in the nearest future
Comentarios
⋅
Posted this chart more than a month ago and it is still perfectly valid. Looks like we had to wait one more NFP report to continue ascending to our target