Slight Retracement Down, Setting Up Bull Run
Currently price is consolidating getting ready for the next breakout move. Retracement back to the monthly may occur at 1.50436 before continuing uptrend to next weekly SR zone at 1.52936 or the daily SR zone below it at 1.53889.
On the weekly chart to this, there is a bullish engulfing candle that overtaken two previous candles. They are currently being retested by the consolidation you see here on the 4 hour before going long. Set TPs at the following spots to locate short before the long move takes over:
BULL TPs:
1.51332
1.51905
1.52959
max tp 1.53685
BEAR TPs:
1.50436
1.49906
1.49376
On the weekly chart to this, there is a bullish engulfing candle that overtaken two previous candles. They are currently being retested by the consolidation you see here on the 4 hour before going long. Set TPs at the following spots to locate short before the long move takes over:
BULL TPs:
1.51332
1.51905
1.52959
max tp 1.53685
BEAR TPs:
1.50436
1.49906
1.49376