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Price is currently hovering around psychological level of 1.12000; i believe if we manage to sustain this level there is a very high chance of the Euro rising against the US Dollar. There is multiple wick rejections of this zone across multiple time frames however there is a lack of momentum. At the current time of writing this it's currently a Monday however i believe the bullish market structure will gradually develop over the week.

DXY Confluence

The US dollar is generally weak across the board due to the Feds looking to cut interest rates and also the US dollar is generally over printed. However this will affect the long term bigger picture of things, on the shorter time frames we can see price is rising towards the 61.8% fibonacci and also to the top of the triangle.

Please ensure to follow risk management when entering trades and take under your own diligence.

#hussainfx #fishingpips #forex

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