EURUSD
From the Technical Views:
1. From the weekly perspective, price break above the previous high, and created a new higher high, we can expect a continuation to the upside after the retracement.
2. From the daily point of view, price break above the major resistance level, and this level is aligning with the 32.8% and 50% FIB level, we can expect the coming retracement will react to both level and continue the move to the upside.
From the Institutional's Views:
1. Overall bullish bias on EUR in the longer-term of view.
2. In the new data, more long positions were increased with slightly short positions increased (9k of long and 1k of short). Net positions from -114k and now become 110k, EUR has become stronger and stronger at the moment, we can expect the EURUSD will continue to push to the upside.
Implication: During EUR move to the upside, long remain added but short increased, meaning they are short for the creation of the retracement, induce all the retail traders go for short, and using their short positions to generate their long liquidity and move the price to the upside.
How to approach EURUSD?
1. Waiting for the price retrace to the potential support level as mentioned above.
2. After that, switch to the lower timeframe to find the long opportunity, if your rules of the strategy are fulfilled.
3. Long at the current price is not a good idea, because you will be missing out of your area of value.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on EURUSD.
1. From the weekly perspective, price break above the previous high, and created a new higher high, we can expect a continuation to the upside after the retracement.
2. From the daily point of view, price break above the major resistance level, and this level is aligning with the 32.8% and 50% FIB level, we can expect the coming retracement will react to both level and continue the move to the upside.
From the Institutional's Views:
1. Overall bullish bias on EUR in the longer-term of view.
2. In the new data, more long positions were increased with slightly short positions increased (9k of long and 1k of short). Net positions from -114k and now become 110k, EUR has become stronger and stronger at the moment, we can expect the EURUSD will continue to push to the upside.
Implication: During EUR move to the upside, long remain added but short increased, meaning they are short for the creation of the retracement, induce all the retail traders go for short, and using their short positions to generate their long liquidity and move the price to the upside.
How to approach EURUSD?
1. Waiting for the price retrace to the potential support level as mentioned above.
2. After that, switch to the lower timeframe to find the long opportunity, if your rules of the strategy are fulfilled.
3. Long at the current price is not a good idea, because you will be missing out of your area of value.
The result might not follow my analysis, this analysis is according to the TA & COT perspectives.
Comment down below and let me know your view on EURUSD.
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