Supply Zone respected at 110.806
We are facing a small amount of demand
at the 109.128 area.
If price successfully breaks this brief
zone of demand.
Then we can expect price to fall to the
next Major supply level of 107.390
If price rejects the demand zone
price will retest 110.806 and then head down
as predicted to our demand zone set up.
Rules:
Buy Stop or...
DAILY- Chart shows that 200,100 and 50 ema have all crossed price "The Death Cross" and price is now in a downwards strong bearish trend.
4Hr - shows beautiful downwards trend line with our first strong pull back wear major profit on the downside could have been awarded.
1 Hr- I have been using the one hour chart to hunt "Supply" Zones as we are now in a...
EMA's are advising that we are still in a strong downtrend. Based on this I have marked your fresh levels of supply where we can expect a pullback and possible chance to gain some profit. #Happytrding. - Forex Da Doat
The Supply Level has been tested over six times. the high hasn't been broken. However the pending sell orders seem to be getting filled and eventually the bulls will take control once the imbalance occurs and the sell orders have decreased. I will be keeping an eye on this supply level as it will bring a vast amount of pips once the supply becomes demand.
Supply Zone has not been tested since february. A Break below the current zone would result in a possible retest of Zone 1 107.135. If this zone is broken as well we will take profits and expect a possible retest of Zone #2 at 106.864 or a retest of Zone #1, hopefully Zone #3 get a retest at approximately 106.687 and buyers may take control from there.
