Daily Bias Ranging
Fundamental Analysis
EUR is expecting to lower interest rate in sept. USD is still ranging due to presidential election
Price Action:
Price rejected from Daily resistance level. pull back to H4 S/R level and consolidated in that H4 level. This week finally it broke out of consolidation, showing signs of stronger sellers. Price is likely to retrace and retest the broken H1 S/R level and reject.
Confluence:
Higher TF (W/D/H4) - Broke H4 SR Level
Lower TF (H1/M30/M15) - Broke out H1 consolidation area.
Set up:
Short trade at broken SR level (H1). SL above consolidation resistance level. Targeting Swing low of H4 R:R 1:4 or the H4 bullish trendline
Fundamental Analysis
EUR is expecting to lower interest rate in sept. USD is still ranging due to presidential election
Price Action:
Price rejected from Daily resistance level. pull back to H4 S/R level and consolidated in that H4 level. This week finally it broke out of consolidation, showing signs of stronger sellers. Price is likely to retrace and retest the broken H1 S/R level and reject.
Confluence:
Higher TF (W/D/H4) - Broke H4 SR Level
Lower TF (H1/M30/M15) - Broke out H1 consolidation area.
Set up:
Short trade at broken SR level (H1). SL above consolidation resistance level. Targeting Swing low of H4 R:R 1:4 or the H4 bullish trendline
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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.
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.