Week 4 2020 - EURUSD
Hi traders,
The EURUSD asset was mainly controlled by dollar flows last week. Strong data out of the US economy support dxy shorts and eventually, we found a rally. This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1 and the stochastic seems like it is in a continuation to the downside.
Price looked bullish coming into the week. Pullback plays early in the week were rewarded. But, we pointed out last week that if price dipped below 111240 then bearish plays are what we should be taking. There was an opportunity to short the pullback on the previous Friday.
The next handle we need to be looking at is 110800. We need to watch how price may react, I expect a bounce at the levels but a clean break of the level means we should play the overextension.
all the best,
Aardall
The EURUSD asset was mainly controlled by dollar flows last week. Strong data out of the US economy support dxy shorts and eventually, we found a rally. This week I am using the Tom Demark's pivot indicator to determine a trend. It is showing we are bearish on the break of S1 and the stochastic seems like it is in a continuation to the downside.
Price looked bullish coming into the week. Pullback plays early in the week were rewarded. But, we pointed out last week that if price dipped below 111240 then bearish plays are what we should be taking. There was an opportunity to short the pullback on the previous Friday.
The next handle we need to be looking at is 110800. We need to watch how price may react, I expect a bounce at the levels but a clean break of the level means we should play the overextension.
all the best,
Aardall
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.