In the previous analysis (8th Jan), I discussed about the short-term selling opportunities as EU was showing an exhaustion sign (pennant pattern) at the bottom band of the channel formation, violating 1.2246 minor support zone, followed by further sell-off, which is exactly what the market performed. Currently price is forming clear lower highs & lows on the 1h & 4h charts, I do expect further rotation towards the 1.2179 during tomorrow's Asia session but be aware that the price action might be slightly choppy. However, do pay attention to 1.2178 support zone, if price rejects off from there we could expect bullish continuation back towards 1.2270. Do not forget the overall trend on the higher timeframe remains bullish.
Will keep it updated tomorrow during the Asia session. Trade safe.
Do follow my profile for daily fx forecast & educational content.
Will keep it updated tomorrow during the Asia session. Trade safe.
Do follow my profile for daily fx forecast & educational content.
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Previous analysis
