mikebiz
Long

Possible buying support EURUSD this week

FX:EURUSD   Euro / U.S. Dollar
Looking for support in the area of 143x in the coming week for possible buying opportunity. 143x will coincide with the high volume line (Point of Control ( POC )) from last week's range on 2hr chart and the new pivot for Feb. If support forms at this level, I'll look to the 5pip/3min chart for a setup to enter long position. If price breaks below this level, then will re-evaluate bias and direction.
Comment: Going into the close today, I'm seeing the opposite of what I was expecting to setup a long entry. With price dropping the Feb pivot and the POC from last week, this looks more like a short setup vs. a long. Looking at the 5pip renko, indicators look like they're starting to evolve more bearish. might look at this from a short side now.
Comment: Looks like the lower value area from last week was holding but with Feb cam S2 and weekly S1 close now, those could be targets for support.
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