Price broke the monthly S4 floor and is likely to continue to S5.
However on weekly price did not close below monthly S4 - so breakout might be false. On the top we have a bullish W formation, which remains "active".
So I would be careful with shorts.
1.04 is very strong support level.
Monday price action will give more clues. If price trends below next week camarilla S1 - bearish bias. Target camarilla S3. Same with the opposite side.
To time the entries I use 500-1000 tick charts (available wth IC Markets, Pepperstone and FxPro's CTrader and FXCM NinjaTrader.
However on weekly price did not close below monthly S4 - so breakout might be false. On the top we have a bullish W formation, which remains "active".
So I would be careful with shorts.
1.04 is very strong support level.
Monday price action will give more clues. If price trends below next week camarilla S1 - bearish bias. Target camarilla S3. Same with the opposite side.
To time the entries I use 500-1000 tick charts (available wth IC Markets, Pepperstone and FxPro's CTrader and FXCM NinjaTrader.