Took almost two months for us to take April high well done for those who caught the move. This analysis will probably take a lot less time to play out.
Friday closed with an inside bar which means you would have to go onto lower timeframes to see which direction makes more sense to go.
I have not been given any reason fundamentally or technically to be bearish on the pair just yet so I will be targeting the high.
The daily FVG is a key area to look at and if it fails and we start making bearish FVGs that could be a sign that we will start getting a weekly or even a monthly pullback.
That's all I can say for now stay safe and flow with the markets.
Friday closed with an inside bar which means you would have to go onto lower timeframes to see which direction makes more sense to go.
I have not been given any reason fundamentally or technically to be bearish on the pair just yet so I will be targeting the high.
The daily FVG is a key area to look at and if it fails and we start making bearish FVGs that could be a sign that we will start getting a weekly or even a monthly pullback.
That's all I can say for now stay safe and flow with the markets.
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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.