Currently, the price is forming a descending triangle pattern. I expect it to take liquidity at the 1.07100 level before making another higher low. My focus is on the 1.07350 level as a potential entry point for short positions. Given that the price is down across all timeframes, I am not considering long positions at this moment.
If the price breaks the daily highs, this setup will become invalid, and I will then look for long opportunities on a pullback. However, for now, my strategy is exclusively oriented towards shorts.
Confluences:
Like and comment if you agree with my setup idea.
If the price breaks the daily highs, this setup will become invalid, and I will then look for long opportunities on a pullback. However, for now, my strategy is exclusively oriented towards shorts.
Confluences:
- Forecast for negative DXY news on 27/06/2024, which is expected to cause a pullback.
- Anticipation of positive results in Friday's news, potentially causing a breakout in this pair and a test of the weekly highs for DXY.
Like and comment if you agree with my setup idea.
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