Good morning, traders in the Asia and London sessions! EUR/USD has opened with a bearish tone and is currently showing signs of an upward rally. However, it's worth noting that the price at 1.05649 didn't show significant upward movement during Friday's session, so it raises questions about the current bullish momentum.
We're approaching this with caution as it involves unnecessary risk. In the bigger picture, we find ourselves in a range high, which doesn't favor long positions. At this moment, the bias for EUR/USD is bearish, but it's essential to consider the mixed signals present on the weekly and monthly charts.
Our approach here is a level-to-level trading plan. We'll carefully evaluate the situation and see if we can capitalize on potential opportunities this week. Remember, patience is key, and sometimes the best trade is the one you don't make. Stay vigilant, fellow traders! Peace out, and let's approach this like seasoned financial Masterminds!
Daniel P. Fadejev