Hi all
After the release of positive statistics for the CPI, we saw a rejection at the previous high on the H4 resistance level 1.07897 yesterday. In the daily chart, price rejection occurred several times prior to the level's 1.06952 breakout.
Therefore, I will partially close at the support level of 1.06610. A break through the level of 1.06609 could terminate the upward HL and confirm the LH.If the 1.06609 level is broken, I see a drop to 1.06107.
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all
After the release of positive statistics for the CPI, we saw a rejection at the previous high on the H4 resistance level 1.07897 yesterday. In the daily chart, price rejection occurred several times prior to the level's 1.06952 breakout.
Therefore, I will partially close at the support level of 1.06610. A break through the level of 1.06609 could terminate the upward HL and confirm the LH.If the 1.06609 level is broken, I see a drop to 1.06107.
My trading strategy isn't intended to be used as a signal service. It's a process of gaining knowledge of market structure and improving my trading abilities.
Like and subscribe and happy trading to all
Note
testing a strong support... will it break?
Note
Updates on the EURUSD: As I mentioned in the previous chart, the EURUSD is attempting to break through a very strong daily support. If price manages to do so, it is possible that the EURUSD will attempt to break through a previous fakeout at 1.05403.
Note
will the FOMC meeting lead the euro to fall even further?Note
After a long downward trend, I expect a pullback to complete the structure before continue short again
Thanks a lot for your support.
Note
waiting for price action
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Related publications
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.