Here is why;
Monthly;
Weekly;
Daily;
Monthly;
- Price broke a major monthly region at 1.9970 and in the process has formed a higher high which shows that price is bullish.
- The long term monthly targets, I believe are 2.0375
- However, that is not important for intraday trades
Weekly;
- Price broke a major region at 1.9500 and it is yet to retest that region.
- I believe that price will retest that region before we see any upside movement
Daily;
- Price formed a very long wick candlestick which shows me that price does not have enough orders to go to the upside.
- For this reason, I believe that some sell orders are due and price will inevitably retest the weekly region at 1.9500.
- However, if price does go lower, then the overall target is at 1.9435
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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.