ridethepig | The Breakout...

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Insufficient sizings followed through into USD after we cleared the kneejerk reaction in risk via US-Iran. The centre of the map at 1.128x is a strategically dubious setup and offers a great opportunity for EUR bulls to position early as we go into NFP ...how to attack from the wings.

By now you all know the necessary swing position we are trading;

Chart of the Week !! - EURUSD (Weekly) - ridethepig


What, however is less well-know is the strategic necessity to keep an eye on the macro themes, particularly in FX positions;

ridethepig | EURUSD 2020 Macro Map + Flow Breakdown


The centre of the technical map here is 1.128x. This means approach with warlike operations as we are never far away. I can remember the initial long-term map we positioned for here, which initially looked rather harmless as far as the flows were concerned; it occurred after the trade war exuberance:

 Birds eye view ... long term EURUSD map


The loss of momentum is important here for bears, because the position only appears to be an advanced one when in reality it can open up the entire swing. This is true of 90% of news flow positions.

Dollar Focus


Good luck all those trading the "opening move" ... EUR bulls can achieve the initiative with a skilful breakout. While invalidation will only come into play below 1.10. As usual thanks so much for keeping your support coming with likes and jumping into the comments!


注释
ridethepig | EUR Market Commentary 2020.09.01
注释
A textbook swing forming here...
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