$EUR/USD -Decisive Weekly Close

Euro has broken down it's giant Weekly Bearish Flag ,
forming within the pattern an uptrend coming from the lows of 0.95 ,
dating back in September 2022.

Having faced resistance at 200EMA *W (1.10) and printing a Doji at that
particular Candlestick , signaling so, an end to the uptrend.
A down-trend has been established, momentum of which,
broke down the bearish pattern by failing to hold Trendline support.

Completion of measured move would take $EUR/USD to near Lows of 2022 ,
while there is plenty of Supports underneath to stop the price going that much
in The South.
Perhaps, that would be an effect of post Debt Ceiling decision.

Will US default on their Debt Ceiling and DXY re-establishes the Dominance
it had through-out 2021 ?
In case they put a stop to money printing,
would be very intereseting to say the least
how DXY will impact the FOREX markets




TRADE SAFE

***
Note that this is not Financial Advice !
Please do your own research and consult your Financial Advisor before partaking
any trading related activities based soly on this idea.

Kommentera:

Weekly Volume Profile coinciding with 1.05 Support Zone

Kommentera:

8HR zoomed in

Kommentera:

EUR/USD

Resistances to watch