We can see some
USD strength at the start of this European morning coming back into the market
which has been expected based on the latest intraday price action. We were
looking for a three wave move down on USDCHF with our members, and so far we
can see that pair found a bottom nicely around 0.9190 from where we can see
some encouraging upside reaction. Looks like we could be heading back to 0.9290,
and possibly 0.9330 this week.
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USDCHF 1h
EURUSD also now
reversing from our »do or die« level placed at 1.3400, but still need a channel
break and impulsive structure (five waves down) from above 1.3400 to make sure
we are going lower.
EURUSD 1h
For now we are
sitting on our hands, no official trades, but we are watching USDCHF, EURUSD
and AUDUSD very closely for possible USD long set-ups. But at the moment
however, I think it’s too soon for trades, it’s still only Monday and also
holiday in the UK, so I believe it’s better to wait on more price action and
see it then if USD rally has already began or no, and then go with the flow.
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