EURUSD 10th February 2020 Explained

For the past week, the EURUSD pair has become the major impact after the bull trader losing interest in buying EURO. It all started on last monday 3rd February 2020 after the ISM Manufacturing PMI release. I have always record my journal and to watch the price movement in my diary. ISM Manufacturing PMI release date of 50.9 after higher value from the original forecast of 48.5. Soon after that the price of the cable drop continuously from day 1 trading until to the NFP report released last week Friday.

ISM Manufacturing PMI - Bullish
ISM Non Manufacturing PMI - Bullish
Unemployment Rate - Bearish (can be neglect)
ADP NFP - Bullish
NFP - Bullish
TRUMP - Strong employment Bullish

When looking back at the chart while having a hot chocolate starbuck, I scan all the timeframe just to look the for the cable destiny for the week of 10th Feb-14th Feb 2020.
I dont see yet any signal or any pattern which consist the reversal or the retracement. As if that the EURUSD has been conquered by the bear trader most of all the time. I dont see any signal to make a long position so I never ever to click the buy icon trade.

Mostly EURUSD will continue to bearish until the price of 1.03407 or perhaps just nice on the value 1.0500. What I can see the trend is bearish and the US economic is very impressive this month.

Monthly = Downtrend with evening star and scallops in the making. 1.03407 or 1.05000. If we see the price close last week is 1.09461. It will continue to go down to 1.09000. For the long term, I will prefer EURUSD will go to 1.05000 or worst to 1.03407. If Donald Trump win this year election, he will send down the cable for further to the grave while waiting for the economic injection from the UK to pumped up the EU for the 10 billions pound.

Weekly price-
O: 1.10951
H: 1.10951
L: 1.09421
C: 1.09461

So I will hold Short for EURUSD this week. Hold Short, put trade Short, scalping Short.


***end of article***



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