After forming a low at 0.8470, this pair turned around, made an equal high, fell back down but now is now making another attempt to break above 0.8720. As the daily chart above shows, it is consolidating at the moment. A daily close above this level will be an indication that price may move higher.
tradingview.sweetlogin.com/proxy-s3/snapshots/z/Zwm2Xr7Q.png
The H1 view above shows a kind of squeeze happening. This may take another 2-3 days, but in my opinion a breakout above 0.8720 is likely. In that case there will be a good trading opportunity with a relatively tight stop on offer.
If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
tradingview.sweetlogin.com/proxy-s3/snapshots/z/Zwm2Xr7Q.png
The H1 view above shows a kind of squeeze happening. This may take another 2-3 days, but in my opinion a breakout above 0.8720 is likely. In that case there will be a good trading opportunity with a relatively tight stop on offer.
If you like my analysis please give it a “thumbs up” and follow me to get immediate notifications.
As always, please use sound money and risk management in all your trades.
Note
This did not work out as I expected. However my long trade did not get triggered either, so no loss.
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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.