Monthly closing is important to predict the likely next move. Actually, I see this as a possible thing. While looking for a short trade before, I finally didn't get the real entry signal and stayed out. This was certainly not bad as the market started to rise. Now I will search for this scenario, but I still don't have a good entry signal in either case. I just share my opinion, that's all.
Comment:
now we have the first resistance where the price can turn down.
Comment:
1H and 2H are suggesting a continuation of the bullish move as 1.10268 is the next target but still with downward risk to around 1.09381 and a bit lower.
Comment:
Now 1.10044 resistance becomes support. If it holds next target is ± 1.10911 and will probably be the higher point. If the support 1.10044 breaks price may fall back to 1.09381
Comment:
So, we saw the resistance 1.10044 back and now the market will decide. Depending of how we close the month and If we see the price back in the lower box this will be a good place for a potential place to buy. Let see if this happens.
Comment:
Update: We're just reaching the box. Not immediately a buy signal. It can drop more but from here it's good to look close to what will happen. If not entering this week then probably next week.
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Against all bears, It's time to focus on the buy ;-)
Comment:
Ok looking to the time. Price is stable for the moment. It will be more clear on the daily closing and a trade maybe next week.
Comment:
I'll wait for an update when the price will reach 1.07585
Trade active:
Finally I've decided to open a long at 1,08050
Trade closed manually:
Closed the long position at 1,08770
