EURUSD is low key hinting of a long term reversal to the upside based on TRI-MONTHLY data. Aligned with my previous post on it weeks ago when it was around 1.07 levels -- conveying its new base for its incoming series of Ascend.
So far it has registered almost 300 pips from that spotted range.
Back on the TRI-MONTHLY data, the pair is strongly amassing significant volume / net buy positions this past 6 months. Bubble up volume (bottom indicator) has finally appeared after 2 years of waiting. The last appearance was on April 2021. The pair registered two straight signals of this for this year 2023: Jan 2023 and April 2023. It looks like June (this month) is about to register its 3rd appearance -- conveying the current range (1.07 to 1.09) to be the strong base of the incoming series of price growth. 2023 will be a year of ACCUMULATION for EURUSD -- so it seems.
On tri-monthly histogram, it is has created higher lows "SHIFT" anew -- it's third appearance in the span of 6 years. First one was on April 2017, then on July 2020, then this month June 2023, after almost 3 years.
EUR is also sitting at 78.6 FIB level - a strong major order block support where the bulk of position buyers converge. It is currently bouncing off it with precision. It is also hovering a 6-year longstanding strong support of 1.07-1.09 range.
Now an interesting TRIVIA for the pair.
JULY seems to play an important role for the pair's price behavior. A lot of times, what comes after a long term correction -- is an upside reversal that falls most of the time on the month of JULY. This has happened multiple times in the past. It maybe a short term bullish season, a major one or an extended long continuation -- but it seems to bounce during those months.
We are about to conclude June, and enter that 'divine' month for EUR -- and based on the present price level, it looks like its going to print another good candle (tri-monthly).
Of course this is not indicative of the pairs future price, but we can certainly be guided.
Just something to ponder about and an interesting way of looking at how dynamic price behavior could be.
Spotted at 1.098 (from 1.07 prev. post).
TAYOR.
Safeguard capital always.
So far it has registered almost 300 pips from that spotted range.
Back on the TRI-MONTHLY data, the pair is strongly amassing significant volume / net buy positions this past 6 months. Bubble up volume (bottom indicator) has finally appeared after 2 years of waiting. The last appearance was on April 2021. The pair registered two straight signals of this for this year 2023: Jan 2023 and April 2023. It looks like June (this month) is about to register its 3rd appearance -- conveying the current range (1.07 to 1.09) to be the strong base of the incoming series of price growth. 2023 will be a year of ACCUMULATION for EURUSD -- so it seems.
On tri-monthly histogram, it is has created higher lows "SHIFT" anew -- it's third appearance in the span of 6 years. First one was on April 2017, then on July 2020, then this month June 2023, after almost 3 years.
EUR is also sitting at 78.6 FIB level - a strong major order block support where the bulk of position buyers converge. It is currently bouncing off it with precision. It is also hovering a 6-year longstanding strong support of 1.07-1.09 range.
Now an interesting TRIVIA for the pair.
JULY seems to play an important role for the pair's price behavior. A lot of times, what comes after a long term correction -- is an upside reversal that falls most of the time on the month of JULY. This has happened multiple times in the past. It maybe a short term bullish season, a major one or an extended long continuation -- but it seems to bounce during those months.
We are about to conclude June, and enter that 'divine' month for EUR -- and based on the present price level, it looks like its going to print another good candle (tri-monthly).
Of course this is not indicative of the pairs future price, but we can certainly be guided.
Just something to ponder about and an interesting way of looking at how dynamic price behavior could be.
Spotted at 1.098 (from 1.07 prev. post).
TAYOR.
Safeguard capital always.
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.
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.