Analysis
1) EURUSD daily seems to be consolidation with the latest stick momentum to the downside.
2) GBPUSD daily seems to confirm EURUSD
3) USDJPY daily is strong momentum downwards, so we have to watch EURJPY and GBPJPY to see whats happening, perhaps its a risk on/off shift move, implying the downwards move by USDJPY may confirm entry even though the correlation is indicating against USD, as its not USD which is moving the most, its actually EUR and GBP, and the spread which is being employed is EURJPY and GBPJPY.
4) commodities are very non-confirming, USDCAD is strong down on daily, AUDUSD shows some strength, NZDUSD is weakness, hence non-confirmation.
5) USDCHF is range bound, non-confirming, if it pushes up confirming EURUSD's down move, then it is possible its a good down move for EURUSD.
Entry look for breakout downwards and then H4 pullback to enter
1) EURUSD daily seems to be consolidation with the latest stick momentum to the downside.
2) GBPUSD daily seems to confirm EURUSD
3) USDJPY daily is strong momentum downwards, so we have to watch EURJPY and GBPJPY to see whats happening, perhaps its a risk on/off shift move, implying the downwards move by USDJPY may confirm entry even though the correlation is indicating against USD, as its not USD which is moving the most, its actually EUR and GBP, and the spread which is being employed is EURJPY and GBPJPY.
4) commodities are very non-confirming, USDCAD is strong down on daily, AUDUSD shows some strength, NZDUSD is weakness, hence non-confirmation.
5) USDCHF is range bound, non-confirming, if it pushes up confirming EURUSD's down move, then it is possible its a good down move for EURUSD.
Entry look for breakout downwards and then H4 pullback to enter