I have created this thread for two reasons; to pen down my expectations of possible market direction for the Fiber, and to seek interaction with other traders on their perspectives of the pair.
Currently, I have a bearish sentiment on the EURUSD this week of July 22, 2024. At least, this is my current position on the pair although I am sure sentiments change without warning. Until then, the EU going South is the more favoured projection.
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As a matter of transparency, this is an update. While Iām still bearish, I exited the trade earlier thinking that sentiment had changed. I should trust my system and the process more. Anyways, the bears party for the week is just starting. On the sidelines till I see an entry invitation to join the bearish trend.
I am bearish as well. Because of poor risk sentiment, high VIX (strong dollar). Waiting for some bearish signal. What are your reasons to be bearish?
The D1 chart has a bearish reversal at the high of the month, we have seen a bearish run last week on xxxusd pairs in addition to the gap up and rejection today on the fiber all tell me, along with higher volume on downbars that the sentiment on the pair is bearish. If the bearish run was mere retracement why was there a gap up this morning? It was to sucker traders into poor positions to make them buy so they can dump it using their stoplosses as liquidity.