By the way, we stopped out on the USD longs, now waiting and watching for the next trade opportunity

Seeing some potential trades shaping with the Dollar but nothing practical yet, also Powell speaks tomorrow, will send a chart with more details when we see a clear trade to take

Powell didn’t add anything new earlier to shift the fundamental sentiment so starting to think EURUSD keeps on squeezing higher to the highs near 1.1090.

We are not long, but it might be something we will consider over the next couple of days, for now just writing down the thoughts and the structure that we see on the chart, will see if we get anything interesting

Alright EURUSD is right there where we want it, so do we long now?

Not so fast, we trigger the trade ONLY when we see price reclaim back above the marked horizontal level.

Small but VERY important technical detail to give that extra technical confirmation and to time the trade right in this specific setup

Absolutely awful PMIs out of Europe right now so EURUSD just smashed through the support.

And that's where price action comes perfectly into play, to filter out, to confirm, and to time the entries.

EURUSD had absolutely NO reaction to the zone of interest and didn't trigger any confirmation so NO trade was executed, simply filtered out would have been just a plain bad trade, onto the next one

EURUSD shorts fundamentally starting to get interesting, and I mean some medium term ones for a move all the way down to 1.07.

Just an idea at the moment tho, now we look for technical triggers to confirm it.

Will send out more details and a chart when we see something specific to take

Another run up into resistance and we are going to short this.

Fundamentally expecting this chop on EURUSD to resolve to the downside towards 1.07

There it is, new crypto update published right now for the new quarter and I can say, we are bullish and positioned, yes, the full update above will give you MORE details so that you can get the fundamental picture perfectly right, for questions you can reach out @JayRally

Getting a bit of a mixed feeling on EURUSD right now, if you went short at the resistance it’s a good idea to protect the position or even better just take profit, we are flat and unlikely to short a retest of the resistance zone if it gets back there

The more it keeps on retesting that big resistance zone mentioned the more it’s likely that it will break higher at one point, something to keep in mind, feels like the short side on EURUSD is getting crowded and riskier

Same story, again, feels like there's a good bunch of Dollar longs on the wrong side now

And here's the squeeze, have a great weekend everybody

Both core and headline CPI below expectations fundamentally the squeeze higher in EURUSD has plenty of room to continue, it should at least reach through the highs above 1.11 as there are plenty of stops resting there, but other than that, likely to tap 1.1150 and higher as well.

Slower inflation, less rate hikes from the FED, softer USD especially against currencies where the central bank is expected to hike further such as the ECB, just a snippet of the current fundamental sentiment to keep well in mind

There's the 1.1150 on EURUSD already but again, likely to keep on squeezing higher as well, why? Because the FED is nearly done hiking while the ECB has still more to do there

The feedback on the article linked above has been amazing when we first posted it so in case you missed it, you can give it a read now, plenty of fundamental knowledge and actionable bits in there.

Also, we are already writing a new educational article and your questions on the subject are the best to fine tune the whole thing, that way we can cover exactly the topics you need, so keep them coming @JayRally

Looking for some Dollar strength this week, will share a chart and more details soon

There it is, as mentioned, looking for some Dollar strength this week, particularly on USDCAD.

Don’t get me wrong, the medium term fundamental context is bearish for the Dollar with inflation cooling off but for this week specifically the conditions look right for a nice technical squeeze of all the late Dollar shorts, but why exactly?

Well, the retail sales tomorrow are likely to print on the strong side and there’s also the FOMC coming up next week, all while the market feels already crowded with Dollar shorts, so yes, that's the right context for a nice Dollar squeeze to rebalance sentiment and positionings for the FOMC next week

Bit off side so far on USDCAD, will see what we get over the next couple of sessions, we want to see price back above 1.3180 to see some upside