The Bears continued their recent dominance on Friday, taking 54 pips off EUR/USD and leaving the previous 2014 low and DCZ 1.3485 behind.
That scenario looks ominous and the Bearish momentum and trend looks set to continue. Thursday’s doji day has allowed WP to close ground on Daily, relieving the ‘oversold” concerns and the ONLY Bullish sign, is an untested DP above PA. I would like to see that change, then it’s all about the Bears.
The Day Ahead
It would be cheeky to trade Long today and it isn’t a strong consideration. If the DP test opportunity arrives, a small stake counter trend MIGHT be considered – otherwise its Short for the first day of FOMC/NFP week.
High Impact News – CET
|4:00pm||USD||Pending Home Sales m/m|
Magic Monday & Wonderful Week