This is a key pair that I'm watching for the week ahead. There are a few price action details that I've labelled accordingly.
1. Great reaction showing that price is unable to trade below 1.0366.
2. Price tested and experienced a weak selloff against the 1.03975 level.
3. Really strong bullish bar indicating that this selloff remains weak.
4. Price drift to the downside, which further gives us an upside bias.
1. Great reaction showing that price is unable to trade below 1.0366.
2. Price tested and experienced a weak selloff against the 1.03975 level.
3. Really strong bullish bar indicating that this selloff remains weak.
4. Price drift to the downside, which further gives us an upside bias.
Note
Caught a good initial push, but momentum is at risk of dying down. If the following level breaches, reversal may be underway.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.