Momentum up is not that strong, resistance is quite strong which means price is likely to reject and drop off.
This is what might happen:
- Price goes to 1.31
- Rejects at 1.31 and goes to 1.30, then 1.29 and further target to 1.275.
This is what might happen:
- Price goes to 1.31
- Rejects at 1.31 and goes to 1.30, then 1.29 and further target to 1.275.
Note
Current indecision around the 1.30 level.
Looking for a US session bull move
Note
Price is at a critical level now. If price breaks the lows we have got a bearish view on this. and if that happens, we might see the same sell off but then without a move to 1.31 and maybe targets directly towards 1.275.
Something like this
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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.