What this ABCD tries to tell us is to think differently - contrarian. Instead of following the crowd, there needs to follow the 'fundamentals'.
Do you favor EUR or USD? I think there are now 2 significant event happening - the un-inversion of the 10s02s = recession and a potential war in mid east. If we look at OIL, i think the MARKET is more worried about recession.
With a recession on the horizon, the 10s02s would rise. Where do you think EURUSD would be headed???
At the moment, there isn't any indication or support for price to continue moving upward.
Best to monitor the situation a bit longer before entering.
Good luck.
P/S : Do not believe what I say. Use your common sense.
Do you favor EUR or USD? I think there are now 2 significant event happening - the un-inversion of the 10s02s = recession and a potential war in mid east. If we look at OIL, i think the MARKET is more worried about recession.
With a recession on the horizon, the 10s02s would rise. Where do you think EURUSD would be headed???
At the moment, there isn't any indication or support for price to continue moving upward.
Best to monitor the situation a bit longer before entering.
Good luck.
P/S : Do not believe what I say. Use your common sense.
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There is NO trade because the Daily Price Point (DPP) is at 1.0750
What I intend to do is to wait till the MARKET moves the DPP back DOWN, which I think they will in 2 or 3 days. Until then, lets sit back and wait.
Good luck.