Hello traders.
On a weekly perspective EJ is forming a top and I beleieve that it will sell hard, to the weekly demand zone approx. 125.
However, I think a stophunt is imminent, which means that the price can go up at the weekly supply zone of 147.8 - 145.6 or iwill go even higher testing the highs of 149.
So, I will minimize my lot size for the first entry and I will keep an eye for the 149 area.There is always the possibility to break the highs and form of totally new trend but we will act accordingly if we see a depiction of such a movement. For now, the pair is completely overbought.
Good luck!
On a weekly perspective EJ is forming a top and I beleieve that it will sell hard, to the weekly demand zone approx. 125.
However, I think a stophunt is imminent, which means that the price can go up at the weekly supply zone of 147.8 - 145.6 or iwill go even higher testing the highs of 149.
So, I will minimize my lot size for the first entry and I will keep an eye for the 149 area.There is always the possibility to break the highs and form of totally new trend but we will act accordingly if we see a depiction of such a movement. For now, the pair is completely overbought.
Good luck!