EURUSD Bullish
已更新
Based on the COT report of the 19/06 we can see that Institution reduced long position on USD for 3 consecutive weeks from 52.927 to 51.109 and 50.234 while slowly increasing shorts position.
This is not a change in sentiment, but rather a profit-taking week.
While the institution are booking profit by closing longs on USD we can see the Dollar index making a 50% retracement towards the weekly BMS. This means that If the dollar is making a retracement it will give a temporary strength to other currency paired against the USD and we can start seeing that happening in the EU.
Despite last week's poor COT report by the EU 45.1% net long vs 55% net short there might still be hope for the Euro as last week was the first bullish close after reaching parity against the dollar, hitting its lowest level against the Dollar since 2002.
There is no doubt that this is a level that created demand: if this is not buying low to sell high, I don't know what is.
A clean demand zone was created just two days before the ECB's monetary policy plan was released.
This was also a reaction from the VWAP anchored to the lowest price of the last 20 years. Is this just a coincidence or is it part of a well-thought-out plan?
My initial focus will be on long setups, but I will always be ready to change my bias if the PWL is violated
This is not a change in sentiment, but rather a profit-taking week.
While the institution are booking profit by closing longs on USD we can see the Dollar index making a 50% retracement towards the weekly BMS. This means that If the dollar is making a retracement it will give a temporary strength to other currency paired against the USD and we can start seeing that happening in the EU.
Despite last week's poor COT report by the EU 45.1% net long vs 55% net short there might still be hope for the Euro as last week was the first bullish close after reaching parity against the dollar, hitting its lowest level against the Dollar since 2002.
There is no doubt that this is a level that created demand: if this is not buying low to sell high, I don't know what is.
A clean demand zone was created just two days before the ECB's monetary policy plan was released.
This was also a reaction from the VWAP anchored to the lowest price of the last 20 years. Is this just a coincidence or is it part of a well-thought-out plan?
My initial focus will be on long setups, but I will always be ready to change my bias if the PWL is violated
註釋
Sellers getting Absorbed on the weekly HVN -929 min vs +35 max delta shows high effort but poor result
註釋
Buyers will tempt to push price towards the supply at 1.02454, the goal is to break that zone and make a deaper push towards the LVN. this last 30 min candle is showing demand, but a close below this 30 min candle could drive price to the 4h demand zone "protected" by the daily ADR
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