Previous Week Update:

  • Before

EURUSD Update.PNG

  • After

EURUSD Update 1.PNG

EURUSD was beautiful this week. I was looking to short after a possible retest on the broken trendline but price never closed under support and flew up. But it created a lower high with an engulfing candle and dropped beautiful. I am up 220 pips on the position with SL secured in profits.


Upcoming USD News:

  • Tuesday
    • CB Consumer Confidence
      • Previous: 119.8
      • Forecast: 121.1
    • Wednesday
      • ADP Non-Farm Employment Change
        • Previous: 135K
        • Forecast: 191K
      • ISM Manufacturing PMI
        • Previous: 60.8
        • Forecast: 59.4
      • Crude Oil Inventories
        • Previous: 0.9M
    • Thursday
      • FOMC Statement
      • Federal Fund Rates
        • Previous: 1.25%
        • Forecast: 1.25%
      • Unemployment Claims:
        • Previous: 233K
        • Forecast: 235K
    • Friday
      • Average Hourly Earnings m/m
        • Previous: 0.5%
        • Forecast: 0.2%
      • Non-Farm Employment Change
        • Previous: -33K
        • Forecast: 311K
      • Unemployment Rate
        • Previous: 4.2%
        • Forecast: 4.2%
      • ISM Non-Manufacturing PMI
        • Previous: 59.8
        • Forecast: 58.3

Monthly: Monthly closing on Tuesday, and looking very strong to test the broken resistance as target! We wait and see with all the USD news!

EURUSD Monthly.PNG

Weekly: Weekly broken support with momentum and the target for retest has a very high chance of a touch.

EURUSD Weekly.PNG

Daily: H&S broken neckline clearly broke with momentum. I am looking for a retest to add more position to then go to target. This week has heavy USD news, but I am expecting positive news for the USD. So, if we do get a retest, my risk tolerance on this set up will be much higher.

EURUSD Daily.PNG

H4: Here we can see our downtrend clearly exhausting. Which makes sense for the EURUSD to retest broken structure to gain liquidity then drop to the target on the weekly for a retest.

EURUSD H4.PNG


Overall EURUSD Analysis

Clearly looking very bearish because of technicals and the bullish USD fundamentals. This week will be volatile so you should tread carefully. But the retest of the H&S neckline looks very probable but it is also very possible that you may stop hunted with all the news we have coming up.


Predicted Movement:

EURUSD Prediction

I see A as most likely path but don’t be biased, we could also bounce, but I highly doubt it market structure is king and King is saying I want to go down.


In Addition:

Follow my Telegram, just search: cyimfx

My internet has been down today after I got back from the beach… Really sorry that I couldn’t do the webinar… If the internet is back up next week, 100% I will have it up!

I also opened a mentorship. Simply go to my website and you will see a tab for “Mentorship”. Click that and you will find the details all there.