Post NFP EURUSD analysis 12.03.23
-Ok bois, here at EMKioko we just read the tape and react to it as per the data its giving off.
-So we have to ask ourselves questions. what are we seeing here? What is happening to EURUSD?
-When you spend enough time on the charts, you get the advantage of visualizing candles as they form, before they form & make concrete conclusions as per your understanding of price action.
-You can see price jumped back to the resistance zone at 1.06814 after Friday's NFP news and closed with a bullish candle on the D1 chart.
-I anticipate price could break and close above this zone & now targeting the 1.07500 area.
-Once again, remember that we are nearing the close of the 1st quarter and price has been on a bullish trend/reversal on the Quarter charts.
-In my opinion, taking buy trades is more safer at the time as sells are proving a risky trade since 1.05300 held strongly. We'd rather wait & buy EU on retracements.
-That's about it for my analysis this weekend. Guess ill just have to wait for the market to open tomorrow and we can react as per the tape.
-Depending on how the tape prints as the week continues, this analysis is bound to change.
-Please leave a like and subscribe if you find this content useful.
-Let's master the charts together.
-So we have to ask ourselves questions. what are we seeing here? What is happening to EURUSD?
-When you spend enough time on the charts, you get the advantage of visualizing candles as they form, before they form & make concrete conclusions as per your understanding of price action.
-You can see price jumped back to the resistance zone at 1.06814 after Friday's NFP news and closed with a bullish candle on the D1 chart.
-I anticipate price could break and close above this zone & now targeting the 1.07500 area.
-Once again, remember that we are nearing the close of the 1st quarter and price has been on a bullish trend/reversal on the Quarter charts.
-In my opinion, taking buy trades is more safer at the time as sells are proving a risky trade since 1.05300 held strongly. We'd rather wait & buy EU on retracements.
-That's about it for my analysis this weekend. Guess ill just have to wait for the market to open tomorrow and we can react as per the tape.
-Depending on how the tape prints as the week continues, this analysis is bound to change.
-Please leave a like and subscribe if you find this content useful.
-Let's master the charts together.
Note
Trade closed: target reached
No sooner had the week started than target was reached. Profits collected. Good start of the week
Note
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