EJ
Updated
⭐️Daily: strong daily level has been broken and retested to continue the uptrend. Price is forming a sequence of clear higher lows. What we can look for here is a new higher low on 78,6% Fibo's level that meet the trendline and the daily level zone (127.000).
⭐️H4 drawing a new trendline we can see a clear new sequence of higher lows so here, what we can expect is a new higher low on 71/78% Fibo's zone.
What we have to remember is the dominance of the daily timing against the H4 one and so, having two conflicting scenarios (daily area of interest is around 127.00 but H4 area of interest is 128.200) what we can do is waiting for a further confirmation.
⭐️H1: here we can see the price reacted to the H4's zone that meet the support of the bearish channel. Now, what I personally expect the price to do is to break and retest the resistance of the channel that meet also an important s&d zone and the previous highs (128.600) to continue long.
If this scenario will be invalidated, then we can have a look at the next zone, the daily zone (127.00).
EUR is so weak this week so be careful with long positions.
NEWS TO CHECK:
🐂11:00am EUR CPI Flash Estimate y/y
EUR Core CPI Flash Estimate y/y
🙏🏼 Namasté
⭐️H4 drawing a new trendline we can see a clear new sequence of higher lows so here, what we can expect is a new higher low on 71/78% Fibo's zone.
What we have to remember is the dominance of the daily timing against the H4 one and so, having two conflicting scenarios (daily area of interest is around 127.00 but H4 area of interest is 128.200) what we can do is waiting for a further confirmation.
⭐️H1: here we can see the price reacted to the H4's zone that meet the support of the bearish channel. Now, what I personally expect the price to do is to break and retest the resistance of the channel that meet also an important s&d zone and the previous highs (128.600) to continue long.
If this scenario will be invalidated, then we can have a look at the next zone, the daily zone (127.00).
EUR is so weak this week so be careful with long positions.
NEWS TO CHECK:
🐂11:00am EUR CPI Flash Estimate y/y
EUR Core CPI Flash Estimate y/y
🙏🏼 Namasté
Trade closed: target reached
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