SL: 1.06500
ENTRY: 1.07626
TP: 1.0


  • After an initial bearish move price found support at the monthly demand zone and also respected the 1.05 quarter point & monthly trend line.

  • This ultimately formed a higher low and a continuation of the overall bullish trend.

  • Price then began a bullish move until it met resistance at a weekly supply zone and created a lower high.

  • A huge sell-off followed until it met and found support at the monthly trendline, support at the 1.075 quarter point & support at a weekly demand zone.

  • The sell-off also served as a retracement and price ultimately ended up respecting the 61.8 fib level.

  • The weekly candlestick also appears to potentially close as a bullish hammer.

  • I am expecting price to continue bullish and test the resistance of 1.0 major point/weekly supply zone.




bearishusdeurusdlongFibonaccilongeuroSupply and DemandswingtradeTrend Lines

Disclaimer