Price has settled above the resistance now support level at 1.17500. I expect price to move off this level towards 1.18200 which is a critical level for price. I think we can expect a short term bullish move to the upside at the start of the week, where we will see price test the strong level discussed.
If price doesn't make a break through with conviction, then I expect this to be a liquidity play before another move down for EU. We would look towards the 4HR Order Block's for an area where price will continue bearish. Long term selling pressure doesn't look to be finished yet and I expect price to target the range low at 1.16000 before we see any major bullish movement.
If price doesn't make a break through with conviction, then I expect this to be a liquidity play before another move down for EU. We would look towards the 4HR Order Block's for an area where price will continue bearish. Long term selling pressure doesn't look to be finished yet and I expect price to target the range low at 1.16000 before we see any major bullish movement.
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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.