The previous Idea worked 100%.
At the moment, the trading instrument is likely to start an upward movement.
Data from CoT reports for the EUR/USD pair reflects an increase in bearish sentiment for the European currency expressed as a decrease in buyers by 6% and a decrease in market capitalization by 1%.
Data from CoT reports on the dollar index (USDX) reflects the growth of bullish sentiment on the US currency. After a 2-week decline, traders made another attempt to turn their net position on USD growth higher. At the same time, the net position of large speculators began to grow from levels that were the lowest in almost two years. Large funds increased buying by 7% for the week, selling was also reduced. Continuation of this trend may contribute to the growth of the US currency.
Based on my vision of the market, I can add the following, I believe in the new week we will reach a block order from where there will be a reaction and a reversal formation to the growth in the price of a trading instrument, but according to CoT reports on EUR/USD, we have a bearish mood (which I believe has been worked out, so as we receive the data with a delay of 4 days).
Entry into positions is carried out only when a confirming pattern is formed.
Dear friends, if you have any questions about the description, please write in the comments.
OB - Order block.
CHOCH - Trend change.
BOS - Violation of the structure.
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