As the Asian markets opens, the pair just gain momentum to the downwards and a there is breached of 1.3546 support as of Friday. In this case, I will be selling retest to the breakout and follow through...
Just a potential direction of this pair as it is finding the acceptance area
The price was not able to breach the lower limit of the current acceptance area so, a retest of the upper limit could be the next possible thing to happen.
As with my observation, this pair has just rallied downwards and created a new acceptance. So, what do we expect here? In this case, willing buyers can be found at around 102.008 for the lower limit and supply which formed during th breakout of the previous acceptance area.
As the pair is looking for an acceptance value downtrend, willing buyers emerge at around 79.74 and pushes back the price towards the previous acceptance level at around 80.25. Currently, after the non-farm as well, the price stuck there and awaiting for Monday's traders to emerge. If the price cannot settler there for at least a week or so then I will be...
I will be selling this pair on a retest and expect a downtrend due to prev VAL break.
This pair just bounced off after a retest from a daily supply level which just formed mid last month. There is a pocket of demand though which didn't hold that much after the non-farm result. Right now, the price just bounced off from a fresh demand and I will be expecting a bullish scenario for this instrument at least for this month of Jul.
Based on the daily time frame, The price just bounced off from the supply level after the non-farm result. So, the next possible move is to the downside to retest the daily supply which is not fresh anymore. For this pair for now, I am bearish and possibly will take a trade in around 1.36467 for a sell.