Similar move to EURUSD; market made a huge dip but is bought. Now price is within the zone which should provide much resistance.
TBH based on yesterday's price action, and that price is below both zones, would expect another revisit of the lows, but given that price just open and went higher, I would say be short only if BZ breaks to target yesterday's low. Be cautiously bullish if price close above BZ to target 1.2436, and that would be a good level to go short. Another possible buy zone would be a bounce off PZ again, good especially with divergence.
TBH based on yesterday's price action, and that price is below both zones, would expect another revisit of the lows, but given that price just open and went higher, I would say be short only if BZ breaks to target yesterday's low. Be cautiously bullish if price close above BZ to target 1.2436, and that would be a good level to go short. Another possible buy zone would be a bounce off PZ again, good especially with divergence.
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Join me for free on Patreon (patreon.com/fademeifyoucan) to receive my daily FX and indices trading plan. DM me to join my new group to learn all my trading levels and to trade together.
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.