If I am interpreting previous lessons correctly, we are Neutral in Dollar and Euro ST. Meaning we should be trading from extremes back toward the flip (between 1.09 and 1.10 in Eur/Usd). A clean 400pips from the monthly open would be at 1.1287 which hasn't been hit yet. There's still time for that not only bf Friday's data, but before the final 2 days of the month after the holiday Monday. I'm not sure we've seen the Eur/Usd bulls closing their position yet. The 100pip retrace from the highs is all but wiped out now. Judging from the some of the comments here (among other things) there's seems to be a general sense that the floor in this pair is rising, so I'm not sure we really will get close to the flip by EOM or 6/13. I've entered early too many times, so will wait to fade the news Friday if it appears bulls are closing their longs then. A daily close below 1.12 today might change my mind, but would hurt the r:r of this trade if the floor is indeed higher.
edit: if you consider from the low of this month on 5/11 at 1.0839 - this may be a good spot to try.
edit: if you consider from the low of this month on 5/11 at 1.0839 - this may be a good spot to try.
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