Price is in a bearish market profile.
The range has been defined from the leg that broke friday's low(london session open), price has retraced back to the range respected 70.5 fib level.OTE Pattern.
Entry has been validated at key level 1.35250. Price is also retesting the swing low it broke in london session. Expecting price to clear prev week low. 1st Target is @1.3500. 2nd Target is @1.34694
On higher time frame price is in a bear market condition.
Dollar index has also broke fridays high, expecting price to run higher in NY session
Previous week we saw price respecting 70.5 fib retracement level, range was defined from the high that was created on thursday to the low of fridays london session.
Thursday high was created, price was seeking liquidity on the old highs.
The range has been defined from the leg that broke friday's low(london session open), price has retraced back to the range respected 70.5 fib level.OTE Pattern.
Entry has been validated at key level 1.35250. Price is also retesting the swing low it broke in london session. Expecting price to clear prev week low. 1st Target is @1.3500. 2nd Target is @1.34694
On higher time frame price is in a bear market condition.
Dollar index has also broke fridays high, expecting price to run higher in NY session
Previous week we saw price respecting 70.5 fib retracement level, range was defined from the high that was created on thursday to the low of fridays london session.
Thursday high was created, price was seeking liquidity on the old highs.
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Trade closed manually