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It's been a while since we looked at EURUSD. It's important to note that DXY is inversely correlated to EURUSD. As we are looking for DXY strength, we are looking for EURUSD short. Both are in a really interesting area where we could see an important move that will dictate the next few weeks of price action.
For this trade, we are looking for a break of the ascending correction we're in now. Wait for bearish price action and then ride this down to the 1.6 level which is a major level.
Goodluck and trade safe!
It's been a while since we looked at EURUSD. It's important to note that DXY is inversely correlated to EURUSD. As we are looking for DXY strength, we are looking for EURUSD short. Both are in a really interesting area where we could see an important move that will dictate the next few weeks of price action.
For this trade, we are looking for a break of the ascending correction we're in now. Wait for bearish price action and then ride this down to the 1.6 level which is a major level.
Goodluck and trade safe!
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