In at the higher levels at 1.0873 on EUR as it is WAY OVERBOUGHT on 1H. Also per the last post I figured if dollar did not hold 97.884 after a short burst from that level on US numbers only to have a fake out lower. It was successfully tested the 97.556-50 level I spoke about last night
ON EUR: The one thing I did not see fully was not only were people not concerned about EUR Monday's highs at that 1.0870-75 spot, they were actually eyeing to fill the gap from Friday's close at 1.0916 SMH not always can I get in a the best price. So short EUR essentially at Monday's highs and will have to wait for confirmation on NFP tomorrow.
If the EUR can hold this level and not finish at the highs during US session close and does not close on H4 above 1.0910 we could see another ABC wave lower. This is HIGHLY DEPENDENT ON DOLLAR HOLDING 97.556-50. Otherwise I would have to say DANO (see his last couple posts) is correct in his wave analysis about a larger ABC long in EUR going to 1.10.
TLDR:
-Dollar needs to hold 97.55-50 for final basing to 99.80-100.40 Otherwise if it breaks tomorrow and close below on H4 a retest of 96.55 is almost assured which would see EUR at 1.10 and change
-EUR needs to fail at this level and roll overnight to form a new ABC pattern and trade to 1.06-1.0620 Otherwise if it closes above 1.0910 we are most likely going higher
-See DANO post on a possible longer extension higher if this level does not roll lower on EUR
ON EUR: The one thing I did not see fully was not only were people not concerned about EUR Monday's highs at that 1.0870-75 spot, they were actually eyeing to fill the gap from Friday's close at 1.0916 SMH not always can I get in a the best price. So short EUR essentially at Monday's highs and will have to wait for confirmation on NFP tomorrow.
If the EUR can hold this level and not finish at the highs during US session close and does not close on H4 above 1.0910 we could see another ABC wave lower. This is HIGHLY DEPENDENT ON DOLLAR HOLDING 97.556-50. Otherwise I would have to say DANO (see his last couple posts) is correct in his wave analysis about a larger ABC long in EUR going to 1.10.
TLDR:
-Dollar needs to hold 97.55-50 for final basing to 99.80-100.40 Otherwise if it breaks tomorrow and close below on H4 a retest of 96.55 is almost assured which would see EUR at 1.10 and change
-EUR needs to fail at this level and roll overnight to form a new ABC pattern and trade to 1.06-1.0620 Otherwise if it closes above 1.0910 we are most likely going higher
-See DANO post on a possible longer extension higher if this level does not roll lower on EUR