As expected, the price break above the bearish trendline, and now the market is switch to the bullish environment from the bearish environment. From the technical perspective, further upside in the next week is expected.
From the COT perspective, hedge funds are actually bullish bias on the EUR, in the latest week, they are closed more than 3k of long positions on EUR, but overall their long positions are more than what they have closed, compare to the last few weeks.
I will be monitoring the 4h price action inside the strong structure are if there has shown any retest or confirmation inside this area, then I will take a long position on the EU with a good risk-reward.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.
From the COT perspective, hedge funds are actually bullish bias on the EUR, in the latest week, they are closed more than 3k of long positions on EUR, but overall their long positions are more than what they have closed, compare to the last few weeks.
I will be monitoring the 4h price action inside the strong structure are if there has shown any retest or confirmation inside this area, then I will take a long position on the EU with a good risk-reward.
Remember, always reacting to the market instead of predicting the market, this analysis is based on technical and COT perspective.
Comment down below and let me know your thought.