EURUSD SHORT TERM SELL LONG TERM BULLISH

Good afternoon traders,

We managed to gain +5% return from a buy trade on Tuesday. Observing EURUSD since then we noticed that on Weekly and Month chart its bearish whereas in Daily chart its bullish.

Our bias on EURUSD, long term is bullish. However our buy entry price is around 0.98300.

Until then, we are looking for a good price to sell. A good sell entry would be around 1.000 - 1.0033

Notice the increase in volome as price creates Lower Lows. This suggests that institutions are aborbing buy orders and selling them.

As per COT data, non commercials have added more long positions and reduced short positions. This is another confirmation of long term bullish momentum in EURUSD.

We will wait for price to come to our entry and sell with some confirmations

Commentaire:

No sell entry as due to news there was no confirmation around the sell area. However as expected, long term EURUSD would be bullish. The bullish momentum happened earlier than we expected