Could this be the EURUSD bullish move to rebalance price? As we've seen TVC:DXY rallying upwards after serious economic struggle I'm seeing price needs to rebalance.
The TVC:US10Y is also showing me signs of price rebalancing reinforcing this idea.
Price could potentially continue higher than the 1.09500 Mark depending on how the election goes and other economic factors but just to be safe I'm looking to hit that price and close most of my bullish positions if not all.
I'm hoping to see the inverse happen on OANDA:EURUSD as the past 4 days we've been sitting around the 1.07700 price range. This has come after a steep drop just after liquidating previous highs so a reversal is looking promising to me.
Something to bear in mind is OTE of the range from the 16th of April to the 25th of September of this year; Price has entered this area and is currently bouncing in and out of said area.
Though this is very promising DXY could still rally higher coming towards the election day and send EURUSD bearish.
Happy trading :)