A lot more indecision on the monthly timeframe, closing bullish inside of the previous monthly candle.
Does this signify a possibility for a short term rally?
In this analysis, I cover the possibilities of a retracement back inside of the weekly range or a continuation into the higher timeframe arrays.
Does this signify a possibility for a short term rally?
In this analysis, I cover the possibilities of a retracement back inside of the weekly range or a continuation into the higher timeframe arrays.
Note
Going into this weeks trading for Euro, I was looking out for price to tap the equilibrium @ 1.03556 before respecting and rallying from the discount upto buyside liquidity @ 1.05334.
It is impossible to predict gap openings like what we saw on Sunday but the rally to close the gap played out the same day with Tuesday filling in 100% of the gap and repricing higher, closing inside of Friday's price range.
Lower dollar will enable a high possibility for risk on conditions for EUR/USD.
Note
Unlike GBPUSD, EURUSD has more room to the upside with a minor SIBI to worry about @ 1.04444 before challenging 1.05344 buyside.
UK rate announcement will affect the price of EURUSD tomorrow.
Don't expect too much today
Note
Weeks price range
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Related publications
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.