As it was forecasted in my previous EUR/USD analysis last week was calm. The market started consolidation. Fundamentals were also neutral.
This week we expect two important events – ECB Press Conference and FOMC minutes. I don’t think we will hear something special but never knows with ‘these funny guys’. By the way, I know Fed announced there will be no interest rate hikes this year. But increasing inflation in US makes me think we will have one. So, let us see. Maybe, in a few months, we will get some hints from Fed. Technically not much has changed also.
I think choppiness in EUR/USD will continue for some time. Still, consider shorts from a recent high near 1.12450. ECB Press Conference and FOMC minutes possibly will give some spike to 1.12700 – 1.12900 and form so-called ‘upthrust’ by Wyckoff. Watch price action to find an entry for shorts with 1.11200 – 1.1100 target. I think this range will be rejected and give us a nice long opportunity with 200 pips target near 1.13400 – 1.13700 range. Where I expect the final wave down to 1.10600 will start. And here we go – a big buying opportunity. Well, it’s a general expectation and it will be corrected based on fundamentals and price action. For now, I stick to shorts and will be looking for an entry to sell EUR futures on managed accounts.
And I have a surprise – more videos on Lady F TV and more posts in my blog… From this week each Wednesday, I will share trading tips, personal finance advice and much more. All trading forecasts will be done each Sunday as always. So make sure you subscribed to my youtube channel and receive updates from my blog.
Have a profitable week!
Hi! My name is Inna. I turned $10k into $3 millions in a few years of trading. I am here to share my success and help you to become financialy free. You are welcome to my website!