All timeframes are in alignment that price is due for a bullish move.
3 month and monthly timeframe:
Price took a lot of bullish orders at 1.6000 from which we saw a lot of bullish momentum on the pair.
Price retested 1.8600, indicating that price would form a new bullish leg and go to the highs of 2.0850.
There has been a lot of choppy price action in the pursuit of that area but I believe that price will soon hit that target in the near future.
This is because this quarterly candle closure looks as if it will close above 2.0250 showing that price has more than enough buy volume to reach that target
On the monthly timeframe, December's monthly candle engulfed numerous wicks showing that buy volume has kicked in.
January and February saw price test the 1.9650 handle twice before collecting enough buy orders to go higher
Weekly:
There is not a lot to deduce here since price is heavily in alignment with the monthly and 3M timeframe
Daily:
Price broke and retested the 2.0300 level and went higher.
Price has formed a bullish pattern that has confirmed to me that 2.0720 is a magnetic region
So everything, price is doing currently is in order to pick up orders to head to that region
4 hour:
Price on the 4 hour has formed a very high confluence bullish pattern that shows me it will break the current highs.
2.0660 is the next magnetic zone for this timeframe and I am looking to long the pair to that region
My optimal entry region is at 2.0550 which is a psychological zone and the London session is drawing near.
I am waiting for a bullish confirmation to buy the pair in the next hour or two.
3 month and monthly timeframe:
Price took a lot of bullish orders at 1.6000 from which we saw a lot of bullish momentum on the pair.
Price retested 1.8600, indicating that price would form a new bullish leg and go to the highs of 2.0850.
There has been a lot of choppy price action in the pursuit of that area but I believe that price will soon hit that target in the near future.
This is because this quarterly candle closure looks as if it will close above 2.0250 showing that price has more than enough buy volume to reach that target
On the monthly timeframe, December's monthly candle engulfed numerous wicks showing that buy volume has kicked in.
January and February saw price test the 1.9650 handle twice before collecting enough buy orders to go higher
Weekly:
There is not a lot to deduce here since price is heavily in alignment with the monthly and 3M timeframe
Daily:
Price broke and retested the 2.0300 level and went higher.
Price has formed a bullish pattern that has confirmed to me that 2.0720 is a magnetic region
So everything, price is doing currently is in order to pick up orders to head to that region
4 hour:
Price on the 4 hour has formed a very high confluence bullish pattern that shows me it will break the current highs.
2.0660 is the next magnetic zone for this timeframe and I am looking to long the pair to that region
My optimal entry region is at 2.0550 which is a psychological zone and the London session is drawing near.
I am waiting for a bullish confirmation to buy the pair in the next hour or two.
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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.