NFP around the corner, will it strengthen USD or weaken sentiment?
EURUSD is at monthly channel low, good upside potential (macro)
DOW is also at monthly low, be interesting to see what run bullish as it will determine the direction of the EURUSD pair.
DOW + Bullish = EURUSD Bearish
Negative NFP reports could push DOW into new lows and set the EUR off on it's bull run.
Also quite difficult to give an accurate estimate because rates are still so high and with so much quantitive easing post covid from both the USD and EUR it's hard to tell what will happen.
Good time for reactive trading, rather than predictive.
EURUSD is at monthly channel low, good upside potential (macro)
DOW is also at monthly low, be interesting to see what run bullish as it will determine the direction of the EURUSD pair.
DOW + Bullish = EURUSD Bearish
Negative NFP reports could push DOW into new lows and set the EUR off on it's bull run.
Also quite difficult to give an accurate estimate because rates are still so high and with so much quantitive easing post covid from both the USD and EUR it's hard to tell what will happen.
Good time for reactive trading, rather than predictive.
