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EURUSD | Perspective for the new week | Follow-up details

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All eyes will be on the Non-farm payroll on Friday as investors want to know whether the Federal Reserve can create a “soft landing” while raising interest rates to combat inflation that has been running at four-decade highs. However, from a technical standpoint, the current market structure still screams "bearish". In this video, I shared my technical opinion on my expectation this week as I look forward to a potential decline for the Euro.

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交易進行

I have missed this move. The week has begun on a bearish note as a breakout of the wedge finally happens; I want to be patient to see if there is going to be a retest of structure or a formation of a trend continuation pattern to join the decline.

Good morning

交易進行

We are right within a supply zone on the 1H time frame. Looking forward to seeing a reversal pattern within this zone to join the potential decline. Let's see what happens in the next couple of hours.

Good morning

交易進行

Price is still within the sell window and it is appropriate to state here that the current structure suggests a selling opportunity below the $1.0000 area.

Good morning

交易進行

A final breakdown of the $1.0000 level coupled with the breakdown of the trendline appears to confirm a bearish momentum.

Good morning

交易結束：達到停損點

I still anticipate selling opportunity

交易進行

Running in profit; locking in some profit

交易進行

The price still running as expected. However, are we going to be seeing this current retracement phase culminate within the $0.99800/1.0000 area to take another selling opportunity (adding to my existing position)?