In yesterday's analysis, I expected EU to respect the bottom band of the flag (exhaustion pattern) the second time, then further drop towards 1.2060 support zone, which was exactly what the market performed. In today's trading session, I will be focusing on the short-term selling opportunities. Be aware that there was a bullish engulfing pattern at 1.2060 support zone, that could indicate some buyers stepping in. To activate any short setup, I will be looking for some pullback, with failure to create higher highs or possibly rejecting the 50ema as confluences, targets will be 1.2060 & 1.2010 support zones.
However, do not forget the overall trend on the higher timeframe remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
However, do not forget the overall trend on the higher timeframe remains bullish, I'm only trying to capitalize on the short-term bearish sentiment in the market.
Trade safe.
Do follow my profile for daily fx forecast & educational content.
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