So the market decided on last day of the month to move to the liquidity zone as initially predicted on Sunday but then On Monday we saw big weakness in the market.
Those kind of spikes do happen usually on last day of a month.
It does not indicate that the long term bias is changing it's just setting up the liquidity zone of the month.
To me the market looks bearish with monthly target around 128.500. As this was my analysis since the start of June for the 2 month analysis I did.
We have seen more news regarding corona virus today we saw bad GDP from Uk as expected so the fundamentals still indication bearish momentum.
So what we have to see from tomorrow is a strong push to the downside and break below 132 by the end of the week or start of next week.
This is just for educational purposes only.
Those kind of spikes do happen usually on last day of a month.
It does not indicate that the long term bias is changing it's just setting up the liquidity zone of the month.
To me the market looks bearish with monthly target around 128.500. As this was my analysis since the start of June for the 2 month analysis I did.
We have seen more news regarding corona virus today we saw bad GDP from Uk as expected so the fundamentals still indication bearish momentum.
So what we have to see from tomorrow is a strong push to the downside and break below 132 by the end of the week or start of next week.
This is just for educational purposes only.
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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.