Hello traders, welcome back to another market breakdown.
Technical analysis: The EURUSD currency pair has been experiencing a downward trend, with the price consistently breaking lower. Furthermore, on the monthly time frame, the price has rejected a major key level. In addition, the Dollar index DXY has also rejected a macro level, indicating further strength in the dollar. This, coupled with the US10Y bond market breaking its structure higher, makes it seem like a wise decision to invest in the dollar during its pullback phase.
The scenario I'm looking at: test back to the broken trend line.
Trade safely, Trader Leo.
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