Heya guys! Been awhile since I've seen you all, I hope everyone had a great Easter! Following an eventful week, EU is currently in a support zone. While there is potential for it to push further down at this level, I think the key events to take note of this week are the French election results, BOJ press statements, and the upcoming Wall St. Week in the U.S.. With this much upcoming, I would be weary of any major movements that present itself on the chart. I am risking minimally due to increased volatility and uncertainty.
As Ichimoku suggests on the D1 chart, EU is sorely in need of a retracement upwards. Furthermore, DXY's bullish rally is slowing down on the 4HR chart with Ichimoku, it's Kumo suggesting that a retracement is indeed in the works for EU in the near-term. That said, I have no clue how much further down EU will go. There's a chance that this bearish rally will continue before price attempts a meaningful retracement.
Anywho, my plan is to hold onto my shorts and wait for the retracement to add on to my short position. I am eyeing 1.083xx - 1.085xx as a possible level to add sells on the 4HR. On D1, I am looking at 1.097xx - 1.098xx.
UPDATE: While i was typing, EU broke past support and is continuing bearishly
Trying my best.
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