Here it is I present to all of you about the EU chart and potential levels to be tested in this week. I want to give several highlighted things in this chart.
First, Looking at the green resistance trend line, this is the resistance trend line which has driven the price since september 2018. This is however become the massive trend line and on daily chart, this resistance trend line is having an alignment with the 200 MA. So, currently the price has now showing the rejection toward this resistance trend line and this action is just showing us that the price still respect current resistance area.
Second, Looking at the price actually has formed the higher low structure and looks like the higher high structure will be formed in the near future. This is a pretty good pattern combination for now. After the price breaks out of the green zone, we'll see a rally toward the upside and long position for swing could be activated.
This weeks we will see a little retracement toward the 1st support zone or maximum to the 2nd support zone. But, my main bias is still testing the green resistance trend line.
First, Looking at the green resistance trend line, this is the resistance trend line which has driven the price since september 2018. This is however become the massive trend line and on daily chart, this resistance trend line is having an alignment with the 200 MA. So, currently the price has now showing the rejection toward this resistance trend line and this action is just showing us that the price still respect current resistance area.
Second, Looking at the price actually has formed the higher low structure and looks like the higher high structure will be formed in the near future. This is a pretty good pattern combination for now. After the price breaks out of the green zone, we'll see a rally toward the upside and long position for swing could be activated.
This weeks we will see a little retracement toward the 1st support zone or maximum to the 2nd support zone. But, my main bias is still testing the green resistance trend line.
Comment:
And just like what I've already acknowledge you all, we touch the grey region and let's see what the next support could affect on the price action.
And just like what I've already acknowledge you all, we touch the grey region and let's see what the next support could affect on the price action.
Comment:
And this EU has already touched the S1 zone which I was expected earlier in this chart. If this area hold, we might see bounce again to retest the green zone. But, if it fails to hold, we'ss see the S2 zone to be tested.
And this EU has already touched the S1 zone which I was expected earlier in this chart. If this area hold, we might see bounce again to retest the green zone. But, if it fails to hold, we'ss see the S2 zone to be tested.
Minor support and resistance
Here, I add the minor resistance (red) and support (blue) in 1 hour time frame. Still looking for opportunity of shorting in lower time frame.