Good Day traders !!! On this Pair we have seen a major impulse today and we are sitting at a very strong level of support. On the monthly timeframe we have we have an overextended "W" formation and we just tested the neckline and we are ready to launch !!! Going down to the weekly timeframe we have an M formation and we want to test the neckline which is in confluence of with the 0.5 Fib level taken on the previous impulse. Going down to the daily timeframe we have a H&S that just formed and we want a retest to the neckline which is the same Neckline of the M formation on the weekly timeframe. Everything looks bullish for the moment.
From an institutional perspective we have the more short position added on the dollar index which support our bullish idea and also on the Eur on the long run the trend is clearly toward the upside since we are looking at institutions adding long position and closing short positions.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
From an institutional perspective we have the more short position added on the dollar index which support our bullish idea and also on the Eur on the long run the trend is clearly toward the upside since we are looking at institutions adding long position and closing short positions.
Now if you enjoyed this analysis smash that like button and share. If you have a different opinion please leave a comment below as I would love to get more insights and ideas. I also linked my previous idea about this asset.
Trade safe !!!
